Non-brokered offering slated to fund operations and working capital
By Devika Patel
Knoxville, Tenn., July 29 – Radient Technologies Inc. said it plans a C$7 million non-brokered private placement of units.
The company will sell 70 million units of one common share and one half-share warrant at C$0.10 per unit.
Each whole warrant will be exercisable at C$0.25 for 42 months. The strike price is a 127.27% premium to the July 28 closing share price of C$0.11.
Proceeds will be used for operations and working capital.
The Edmonton, Alta., company extracts compounds from biological materials using microwave-assisted processing.
| Issuer: | Radient Technologies Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$7 million
|
| Units: | 70 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 42 months
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | July 29
|
| Stock symbol: | TSX Venture: RTI
|
| Stock price: | C$0.11 at close July 28
|
| Market capitalization: | C$6.71 million
|
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