Published on 11/21/2006 in the Prospect News PIPE Daily.
New Issue: Novik settles private placement of units for C$2.37 million
By Laura Lutz
Des Moines, Nov. 21 - Novik Inc. completed a C$2.37 million private placement of units with Fonds d-investissement Actions-Croissance PME Inc., Fonds Cote 100 Actions-Croissance PME and Sipar Inc.
The company sold 6,771,429 units of one share and one half-share warrant at C$0.35 per unit. Each whole warrant is exercisable at C$0.45 for two years.
Based in St.-Augustin de Desmaures, Quebec, Novik is a manufacturer of polymer exterior coverings.
Issuer: | Novik Inc.
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Issue: | Units of one share and one half-share warrant
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Amount: | C$2.37 million
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Units: | 6,771,429
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Price: | C$0.35
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.45
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Settlement date: | Nov. 20
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Stock symbol: | TSX Venture: NVK
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Stock price: | C$0.35 at close Nov. 21
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