By Devika Patel
Knoxville, Tenn., April 4 - Sprylogics International Corp. said it has negotiated a private placement of units to raise C$2 million.
The company plans to sell 13,333,333 units of one common share and one half-share warrant at C$0.15 per unit.
Each whole warrant will be exercisable at C$0.20 for two years.
Proceeds will be used for general working capital, including marketing and research and development.
PowerOne Capital Markets Ltd. will be the agent. Settlement is expected April 15.
Toronto-based Sprylogics develops advanced search, analysis, and information display tools and services.
| Issuer: | Sprylogics International Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2 million
|
| Units: | 13,333,333
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Agent: | PowerOne Capital Markets Ltd.
|
| Pricing date: | April 4
|
| Settlement date: | April 15
|
| Stock symbol: | TSX Venture: SPY
|
| Stock price: | C$0.185 at close April 3
|
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