First deal includes warrants for 250,000 shares, exercisable at $0.20
By Devika Patel
Knoxville, Tenn., Feb. 2 – Event Cardio Group Inc. completed a $25,000 private placement of stock with Louis Sitaras on Jan. 30 and a $72,000 private placement of stock with Louis P. Solferino on Feb. 2, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 250,000 common shares at $0.10 per share to Sitaras in the first placement. The price per share is an 11.11% premium to the Jan. 29 closing share price of $0.09.
Sitaras also received warrants for 250,000 shares, which are each exercisable at $0.20 until Jan. 31, 2016. The strike price is a 122.22% premium to the Jan. 29 price.
The company sold 800,000 common shares at $0.09 apiece to Solferino in the second placement. The price per share is identical to the Jan. 30 closing share price.
The Mississauga, Ont., company offers ambulatory medical devices for physicians and medical institutions.
| Issuer: | Event Cardio Group Inc.
|
| Issue: | Common stock
|
| Amount: | $97,000
|
| Stock symbol: | OTCBB: ECGI
|
| Stock price: | $0.73 at close Jan. 15
|
| Market capitalization: | $8.85 million
|
|
|
| First sale
|
| Amount: | $25,000
|
| Shares: | 250,000
|
| Price: | $0.10
|
| Warrants: | For 250,000 shares
|
| Warrant expiration: | Jan. 31, 2016
|
| Warrant strike price: | $0.20
|
| Investor: | Louis Sitaras
|
| Settlement date: | Jan. 30
|
| Stock price: | $0.09 at close Jan. 29
|
|
|
| Second sale
|
| Amount: | $72,000
|
| Shares: | 800,000
|
| Price: | $0.09
|
| Warrants: | No
|
| Investor: | Louis P. Solferino
|
| Settlement date: | Feb. 2
|
| Stock price: | $0.09 at close Jan. 30
|
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