MGI Securities helps raise funds for general working capital purposes
By Devika Patel
Knoxville, Tenn., Jan. 19 - Zaio Corp. said it has arranged a C$2 million private placement of units with a 15% greenshoe. MGI Securities Inc. is the lead agent.
The company will sell 20 million units of one common share and one warrant at C$0.10 per unit on a best-efforts basis.
Each two-year warrant will be exercisable at C$0.13, which is a 36.84% premium to the Jan. 18 closing share price of C$0.095.
Settlement is expected Feb. 14.
Proceeds will be used for general working capital.
Additionally, the company said it has issued to officers and directors 1,121,200 share options, which are exercisable at C$0.13 with a two-year vesting period.
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 warrant
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Amount: | C$2 million
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Greenshoe: | 15%
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Units: | 20 million
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Price: | C$0.10
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Warrants: | One warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.13
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Agent: | MGI Securities Inc. (lead)
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Pricing date: | Jan. 19
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Settlement date: | Feb. 14
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Stock symbol: | CNSX: ZAO
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Stock price: | C$0.095 at close Jan. 18
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