12% debentures sold with bonus common shares in two-tranche offering
By Devika Patel
Knoxville, Tenn., June 25 – Isis Lab Corp. said on Tuesday that it will conduct a C$2 million non-brokered private placement of 12% unsecured debentures in two tranches.
The debentures will be accompanied by bonus common shares equal to 8% of the proceeds.
Settlement of the final tranche is expected July 24, 2015.
Proceeds will be used to pursue acquisitions and for general working capital purposes.
The Toronto company is a developer and provider of a social gaming software platform.
| Issuer: | Isis Lab Corp.
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| Issue: | Unsecured debentures, 8% in common shares
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| Amount: | C$2 million
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| Maturity: | Two years
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| Coupon: | 12%
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| Warrants: | No
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| Agent: | Non-brokered
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| Pricing date: | June 24
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| Settlement date: | July 24, 2015
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| Stock symbol: | TSX Venture: LAB
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| Stock price: | C$0.50 at close June 23
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| Market capitalization: | C$26.85 million
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