Haywood Securities helps raise funds for acquisitions, working capital
By Devika Patel
Knoxville, Tenn., June 11 – Zaio Corp. said it has arranged a C$5 million private placement of units with a C$2 million greenshoe.
The company will sell 25 million units of one common share and one warrant at C$0.20 per unit on a best-efforts basis.
Each three-year warrant will be exercisable at C$0.28, which is a 40% premium to the June 10 closing share price of C$0.20.
Haywood Securities Ltd. is the lead agent of a syndicate which includes Clarus Securities Inc. and Mackie Research Capital Corp.
Settlement is expected June 27.
Proceeds will be used for acquisitions, 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 warrant
|
| Amount: | C$5 million
|
| Greenshoe: | C$2 million
|
| Units: | 25 million
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.28
|
| Agent: | Haywood Securities Ltd. (lead), Clarus Securities Inc. and Mackie Research Capital Corp.
|
| Pricing date: | June 11
|
| Settlement date: | June 27
|
| Stock symbol: | TSX Venture: ZAO
|
| Stock price: | C$0.20 at close June 10
|
| Market capitalization: | C$12.55 million
|
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