By Sheri Kasprzak
New York, Dec. 21 - CompuPrint, Inc. said it concluded a private placement for $1 million.
The company issued 1 million shares at $1.00 each to Belhasa International Co., LLC.
Belhasa also received warrants for 150,000 shares exercisable at $1.25 each for one year and warrants for 2 million shares, exercisable at $1.15 each for the first three months and $1.50 each for the remaining three months.
The offering was non-brokered.
Proceeds will be used for working capital.
New York-based CompuPrint, through subsidiary Terra Insight Corp., provides mapping, surveying and analytical services to natural resources exploration and drilling companies.
Issuer: | CompuPrint, Inc.
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Issue: | Stock
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Amount: | $1 million
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Shares: | 1 million
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Price: | $1.00
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Warrants: | For 2.15 million shares
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Warrant expiration: | One year for 150,000 shares; six months for 2 million shares
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Warrant strike price: | $1.25 for 150,000 shares; $1.15 for the first three months for 2 million shares, $1.50 for the remaining three months
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Placement agent: | Non-brokered
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Investor: | Belhasa International Co., LLC
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Settlement date: | Dec. 21
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Stock price: | $0.40 at close Dec. 20
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