Offering sells units of one share and one half-share warrant at $1.25
By Devika Patel
Knoxville, Tenn., March 17 - Crailar Technologies Inc. said it plans a $3.1 million non-brokered private placement of units.
The company will sell units of one common share and one half-share warrant at $1.25 per unit. Each whole, two-year warrant will be exercisable at $1.75, a 28.68% premium to $1.36, the March 13 closing share price.
The Victoria, B.C., company has developed cost-effective and environmentally sustainable natural fiber in the form of flax, hemp and other fibers for use in textile, industrial, energy, medical and composite material applications.
| Issuer: | Crailar Technologies Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | $3.1 million
|
| Price: | $1.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $1.75
|
| Agent: | Non-brokered
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| Pricing date: | March 14
|
| Stock symbol: | OTCBB: CRLRF
|
| Stock price: | $1.36 at close March 13
|
| Market capitalization: | $57.81 million
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