By Devika Patel
Knoxville, Tenn., Sept. 15 - Zaio Corp. said it will take in C$1.5 million in a non-brokered private placement of units.
The company will sell 10 million units at C$0.15 apiece. Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$0.25 for one year.
Settlement is expected Oct. 30.
Proceeds will be used for working capital.
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$1.5 million
|
| Units: | 10 million
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.25
|
| Agents: | Non-brokered
|
| Pricing date: | Sept. 15
|
| Settlement date: | Oct. 30
|
| Stock symbol: | TSX Venture: ZAO
|
| Stock price: | C$0.19 at close Sept. 15
|
| Market capitalization: | C$13.3 million
|
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