Published on 10/30/2009 in the Prospect News PIPE Daily.
New Issue: Zaio secures C$1.32 million through private placement of equity units
By Devika Patel
Knoxville, Tenn., Oct. 30 - Zaio Corp. said it raised C$1.1 million in the second tranche of a C$1.32 million non-brokered private placement of units. The deal priced for C$1.5 million Sept. 15, and the company took in C$226,800 in the first tranche on Oct. 6.
The company sold a total of 8,824,499 units at C$0.15 apiece. It sold 1,512,000 units in the first tranche and 7,312,499 units in this one. Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$0.25 for one year.
Proceeds will be used for working capital.
Based in Calgary, Alta., Zaio maintains a database of property information.
Issuer: | Zaio Corp.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$1,323,675
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Units: | 8,824,499
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Price: | C$0.15
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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$0.25
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Agents: | Non-brokered
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Pricing date: | Sept. 15
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Settlement date: | Oct. 6 (for C$226,800), Oct. 30 (for C$1,096,875)
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Stock symbol: | TSX Venture: ZAO
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Stock price: | C$0.19 at close Sept. 15
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Market capitalization: | C$9.78 million
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