Non-brokered deal offers units with whole warrants at C$0.05 per unit
By Devika Patel
Knoxville, Tenn., Jan. 30 - Sprylogics International Corp. said it completed a C$1.01 million non-brokered private placement of units.
The company sold 20,254,000 units of one common share and one warrant at C$0.05 per unit.
Each warrant is exercisable at C$0.10 for two years. The strike price is a 100% premium to C$0.05, the Jan. 29 closing share price.
Proceeds will be used for research and development, marketing and other general working capital purposes.
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 warrant
|
| Amount: | C$1,012,700
|
| Units: | 20,254,000
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Settlement date: | Jan. 30
|
| Stock symbol: | TSX Venture: SPY
|
| Stock price: | C$0.05 at close Jan. 29
|
| Market capitalization: | C$4.43 million
|
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