By Sheri Kasprzak
New York, March 3 - Visiphor Corp. said it has completed a C$270,000 follow-on offering to its private placement that closed in December 2005. The offering brings to C$4,303,365 the proceeds raised in the placement.
In the most recent offering, the company sold 600,000 units at C$0.45 each.
Each unit consists of one share and one half-share warrant. The whole warrants allow for the purchase of another share at C$0.50 each for one year.
In the original offering, settled Dec. 1, 2005, Visiphor sold 8,963,034 subscription receipts at C$0.45 each. The subscription receipts were exchanged for the units after the company completed its acquisition of Sunaptic Solutions Inc.
Based in Vancouver, B.C., Visiphor provides data systems for law enforcement. Sunaptic develops Microsoft technologies for the health care and financial services sectors.
| Issuer: | Visiphor Corp.
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| Issue: | Units of one share and one-half share warrant
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| Amount: | C$270,000
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| Units: | 600,000
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| Price: | C$0.45
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.50
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| Settlement date: | March 2
|
| Stock symbol: | TSX Venture: VIS
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| Stock price: | C$0.31 at close March 2
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