By Sheri Kasprzak
New York, June 8 - Musicrypt Inc. closed a C$1.5 million private placement.
The company issued 7.5 million units of one share and one half-share warrant at C$0.20 per unit.
The whole warrants associated with the offering are exercisable at C$0.30 each for two years.
Wellington West Capital Inc. and Kingsdale Capital Markets Inc. were the underwriters in the offering.
Toronto-based Musicrypt is a digital media distributor. The company distributes digital music files on a business-to-business basis.
| Issuer: | Musicrypt Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1.5 million
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| Units: | 7.5 million
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| Price: | C$0.20
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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$0.30
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| Underwriters: | Wellington West Capital Inc. and Kingsdale Capital Markets Inc.
|
| Settlement date: | June 8
|
| Stock symbol: | TSX Venture: MCT
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| Stock price: | C$0.17 at close June 7
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