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Verisante Technology Inc Announces Brokered Private Placements


Wednesday, 27 Feb 2013 04:17pm EST 

Verisante Technology Inc announced that the Company intends to complete two separate and independent brokered private placements through Raymond James Ltd. (agent for sales in Canada only) and a separate Agent for sales in the US (the Agents). The private placement to be conducted by Raymond James Ltd. shall be for a minimum of 4,000,000 to a maximum of 10,000,000 units at $0.50 per unit for total gross proceeds of a minimum of $2,000,000 and a maximum of $5,000,000, and the private placement to be conducted by the Company's US Agent shall be for a minimum of 4,000,000 to a maximum of 10,000,000 units at $0.50 per unit for total gross proceeds of a minimum of $2,000,000 and a maximum of $5,000,000, (collectively, the Offerings). Each unit will comprise of one common share and one common share purchase warrant (the Warrants). Each Warrant will entitle the holder to purchase one common share at a price of $0.70 per share with an expiry date of 24 months from the closing of the Offerings. Closing of the Offerings are scheduled to occur on or before April 30, 2013 or at any other such time as the Company and each Agent may agree. The net proceeds of the Offerings will be used to fund the Company's manufacturing of Aura, to pursue additional regulatory approvals of Aura in the United States and other regions, to support sales and marketing initiatives, and for working capital requirements. 

Company Quote

0.085
-0.0050 -5.56%
24 Dec 2014