Non-brokered deal’s proceeds used for general working capital purposes
By Devika Patel
Knoxville, Tenn., Aug. 27 – RSI International Systems Inc. said it arranged a C$1 million non-brokered private placement of units.
The company will sell 8,333,333 units of one common share and one half-share warrant at C$0.12 per unit.
Each whole warrant is exercisable at C$0.25 for two years. The strike price is a 100% premium to the Aug. 26 closing share price of C$0.125.
Proceeds will be used for general working capital purposes.
The North Vancouver, B.C., company has developed RoomKey, a guest management system for the hospitality industry.
| Issuer: | RSI International Systems Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 8,333,333
|
| Price: | C$0.12
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 27
|
| Stock symbol: | TSX Venture: RSY
|
| Stock price: | C$0.125 at close Aug. 26
|
| Market capitalization: | C$2.26 million
|
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