By Devika Patel
Knoxville, Tenn., Dec. 19 - Zaio Corp. said it raised C$15.02 million in a private placement of units, which priced Dec. 6 for C$15 million.
The company sold 13.65 million units at C$1.10 apiece. It originally intended to sell 13.6 million units at that price. Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$1.50 for two years.
Clarus Securities Inc. and Oppenheimer & Co. Inc were co-lead agents. The agents received a 7% cash commission and a number of compensation options equal to 7% of the number of units sold. Each compensation option is exercisable for one unit at C$1.10 for two years.
Proceeds will be used to accelerate photography and data gathering operations throughout the United States, as well as for working capital and general corporate purposes.
Based in Calgary, Alta., Zaio maintains a database of property information.
| Issuer: | Zaio Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$15,015,000
|
| Units: | 13.65 million
|
| Price: | C$1.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.50
|
| Agents: | Clarus Securities Inc., Oppenheimer & Co. Inc. (co-leads)
|
| Fees: | 7% in cash and options
|
| Pricing date: | Dec. 6
|
| Settlement date: | Dec. 19
|
| Stock symbol: | TSX Venture: ZAO
|
| Stock price: | C$1.35 at close Dec. 6
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
