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TransGaming Inc Closes Second Tranche of Recently Announced Private Placement


Tuesday, 4 Dec 2012 05:30pm EST 

TransGaming Inc announced that it had completed a second tranche of $150,000 of the non-brokered private placement of up to $1.8 million it previously announced November 20, 2012. A total of 1,566,416 units were issued to subscribers with each unit priced at $0.09576 and comprised of one (1) common share and one (1) common share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one common share at an exercise price of $0.1436 at any time on or before the 24-month anniversary of the closing date. The terms of this tranche are as previously announced and are part of a subscription agreement with the investor. The issue price of the unit in this tranche was set at a 20% discount from the 30-day volume weighted average price of the stock and the exercise price of the Warrant at a 20% premium to the 30-day volume weighted average price of the stock. The net proceeds from the private placement will be used by the Company for working capital and general corporate purposes. 

Company Quote

0.085
0.0 +0.00%
22 Oct 2014