By Devika Patel
Knoxville, Tenn., July 17 - Visiphor Corp. said it will raise up to C$1 million through a private placement of units via agent Investor Cubed Inc.
Each unit, priced at C$0.10, consists of one share and one half-share warrant. The whole warrants allow for the purchase of another share at C$0.12 each for one year.
Investor Cubed will be paid a 7.5% cash commission of the gross proceeds.
The proceeds will be used for general operating capital.
Based in Vancouver, B.C., Visiphor provides data systems for law enforcement.
| Issuer: | Visiphor Corp.
|
| Issue: | Units of one share and one-half share warrant
|
| Amount: | C$1 million (maximum)
|
| Placement agent: | Investor Cubed Inc.
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.12
|
| Announcement date: | July 17
|
| Agent: | Investor Cubed Inc.
|
| Stock symbol: | TSX Venture: VIS
|
| Stock price: | C$0.07 at close July 16
|
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