Kingsway Arms Retirement Residences Inc: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
Provider: Wright Reports
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Kingsway Arms Retirement Residences Inc Secures $15,000 Private Placement-Canada Stockwatch
Canada Stockwatch reported that Kingsway Arms Retirement Residences Inc subject to TSX Venture Exchange approval, the Company has secured a $15,000 private placement financing. The private placement is structured as a unit offering of 300,000 units, each unit consisting of one common share at a strike price of $0.05 per share together with a common share purchase warrant to acquire an additional common share at an exercise price of $0.10 per common share. The warrants have a five-year term and will expire on June 14, 2018, if unexercised by that date. The Company will issue 300,000 common shares from treasury for this subscription. Subsequent to the completion of the private placement, the Company will report 17.6 million common shares issued and outstanding. - The board of directors has approved the issuance of 565,000 common stock options to officers, directors and employees of the Company. The options have a strike price of $0.10 per common share and have a term of five years through June 14, 2018. The options are fully vested upon issuance. Subsequent to the issuance of these common stock options, the Company has 2,935,000 common stock options outstanding.
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