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CriticalControl Solutions Corp announces $3 million bought deal private placement


Monday, 16 Jun 2014 09:04am EDT 

CriticalControl Solutions Corp:Announce that it has entered into an agreement with Industrial Alliance Securities Inc. (Underwriter).Pursuant to which the Underwriter has agreed to purchase for resale to the public, on a bought deal private placement basis, 6,000,000 units of the Corporation, at a price of $0.50 per Unit, for gross proceeds of $3,000,000.Says it has also granted to the Underwriter an option, exercisable until the closing date of the private placement, on a bought deal private placement basis, up to an additional 900,000 Units, at a price of $0.50 per Unit, for additional gross proceeds of up to $450,000.Each Unit will be comprised of one common share in the capital of the Corporation and one-half of one common share purchase warrant.Each Warrant will entitle the holder thereof to acquire one additional common share in the capital of the Corporation, at a price of $0.70 per Warrant Share, at any time prior to the 12-month anniversary of the closing date of the private placement.Says net proceeds of the private placement will be used to fund the corporation's growth initiatives and for general corporate purposes. 

Company Quote

0.48
-0.02 -4.00%
19 Sep 2014