Company arranges financing at C$0.20 per unit to fund working capital
By Devika Patel
Knoxville, Tenn., July 15 - RXT 110 Inc. said it plans a C$2.83 million private placement of units.
The company will sell 14,135,000 units of one class A share and one class A warrant at C$0.20 per unit, with each warrant exercisable at C$0.30 for 18 months.
The strike price is a 100% premium to the July 14 closing share price of C$0.15.
Proceeds will be used for working capital.
The Toronto-based company's retail anti-microbial products kill mould, bacteria and fungi on contact and prevent re-growth.
Issuer: | RXT 110 Inc.
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Issue: | Units of one class A share and one class A warrant
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Amount: | C$2,827,000
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Units: | 14,135,000
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Price: | C$0.20
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Warrants: | One warrant per unit
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Warrant expiration: | 18 months
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Warrant strike price: | C$0.30
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Pricing date: | July 15
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Stock symbol: | CNSX: RXT
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Stock price: | C$0.15 at close July 14
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