Telehop Communications Inc: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Telehop Communications Inc Announces Private Placement
Telehop Communications Inc announced that it intends to complete a non-brokered private placement of up to $750,000 through the issuance of units (each, a Unit and collectively, the Units) at a price of $0.10 per Unit, where each Unit consists of one common share and one-half of one common share purchase warrant (Warrant). Each Warrant will entitle the holder to purchase one common share over a two-year period (subject to acceleration in the event that the closing price of the Company's common shares on the TSX Venture Exchange, for a period of 10 consecutive trading days, exceeds $0.25per common share) at a price of $0.15 per common share. Telehop may engage one or more finders to assist it in the sale of Units, with each finder receiving a cash payment equal to 7.5% of the proceeds received by Telehop through introductions made by the respective finder, and warrants to purchase that number of common shares equal to 7.5% of the Units sold by Telehop to purchasers introduced by each such finder. The proceeds of the private placement will be used by Telehop to finance the capital and marketing requirements needed to implement its strategic relationship with a national telecommunications company whereby mobile customers will be able to place overseas calls using Telehop's long distance services; the strategic relationship was announced on July 3, 2012.
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