By Sheri Kasprzak
New York, March 22 - Chalk Media Corp. has settled its previously announced private placement for more than it bargained.
The company raised $3,621,000 from the sale of 18,105,000 units of one share and one warrant at $0.20 each.
The warrants are exercisable for another share at $0.20 each for two years.
Both institutional and accredited investors subscribed for the offering, including institutions like Bolder Opportunities II LP, WKW I LP and Bukchuk Holdings Ltd. Insiders of the company and funds affiliated with those insiders also subscribed for the non-brokered deal.
The offering priced Jan. 11 as a $2 million offering of 10 million units but was upsized on Feb. 9 to $3 million.
Based in Vancouver, B.C., Chalk Media develops interactive learning software for corporate organizations.
| Issuer: | Chalk Media Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | US$3,621,000
|
| Units: | 18,105,000
|
| Price: | US$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | US$0.20
|
| Placement agent: | Non-brokered
|
| Investors: | Bolder Opportunities II LP, WKW I LP, Bukchuk Holdings Ltd., others
|
| Pricing date: | Jan. 11
|
| Upsized: | Feb. 9
|
| Settlement date: | March 21
|
| Stock symbol: | TSX Venture: CKM
|
| Stock price: | C$0.23 at close Jan. 11
|
| Stock price: | C$0.24 at close Feb. 9
|
| Stock price: | C$0.42 at close March 21
|
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