Non-brokered sale of 2,173,913 shares funds working capital purposes
By Devika Patel
Knoxville, Tenn., Sept. 12 – Lite Access Technologies Inc. said it will conduct a C$2.5 million non-brokered private placement of stock.
The company will sell 2,173,913 common shares at C$1.15 apiece. The price per share is a 20.64% discount to the Sept. 9 closing share price of C$1.26.
Proceeds will be used for working capital purposes.
Based in Vancouver, B.C., Lite Access' microduct technology extends a network provider's ability to deliver broadband connectivity directly to end-users.
| Issuer: | Lite Access Technologies Inc.
|
| Issue: | Common shares
|
| Amount: | C$2.5 million
|
| Shares: | 2,173,913
|
| Price: | C$1.15
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 12
|
| Stock symbol: | CNSX: LTE
|
| Stock price: | C$1.26 at close Sept. 9
|
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