Investors also receive 3,547,000 warrants exercisable at 25% premium
By Toni Weeks
San Diego, April 26 - Buildablock Corp. said it completed an $886,750 private placement of shares through April 20.
The company sold 3,547,000 shares at $0.25 per share. Investors also received 3,547,000 warrants, each one exercisable at $0.50 until Aug. 31, 2013. The share price is a 37.5% discount to the closing share price of $0.40 0n April 25. The strike price is a 25% premium to that price.
The company also announced that it issued 480,000 shares at a deemed price of $0.25 per share on April 12 to satisfy a debt of $120,000 owed to some officers and principal shareholders.
Buildablock is a Montreal-based internet and mobile service platform whose goal is to empower and capitalize on social networking within neighborhoods.
| Issuer: | Buildablock Corp.
|
| Issue: | Shares
|
| Amount: | $886,750
|
| Shares: | 3,547,000
|
| Price: | $0.25
|
| Warrants: | For 3,547,000 shares (one warrant per share)
|
| Warrant expiration: | Aug. 31, 2013
|
| Warrant strike price: | $0.50
|
| Settlement date: | April 12
|
| Stock symbol: | OTCBB: BABL
|
| Stock price: | $0.40 at close April 25
|
| Market capitalization: | $3.43 million
|
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