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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Imaflex Inc | TSXV:IFX | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.04 | 1.04 | 1.08 | 1.04 | 1.04 | 1.04 | 10,110 | 18:30:00 |
Stock Symbol: IFX
MONTREAL, Dec. 11, 2014 /CNW Telbec/ - Imaflex Inc. (TSXV: IFX) ("Imaflex" or the "Corporation") is pleased to announce its intention to complete a non-brokered private placement of up to 2,222,222 units (the "Units") at a price of $0.45 per Unit for maximum gross proceeds of $1,000,000 (the "Offering"). Each Unit is comprised of one common share of the Corporation (the "Common Shares"), and one half of one common share purchase warrant (the "Warrants"). Each full Warrant will entitle the holder thereof to purchase one additional Common Share at an exercise price of $0.65 per Common Share for a period of twelve (12) months from the closing of the Offering.
The Corporation may receive subscribers referrals from different finders (the "Finders") in connection with the Offering. In such case, the Corporation has agreed to pay the Finders a cash commission equal to 6.0% of the gross proceeds of the Offering from subscribers introduced to the Corporation by such Finders and finders' fee options equal to 6.0% of the total number of Units sold pursuant to the Offering to subscribers introduced to the Corporation by such Finders (collectively, the "Finders' Warrants"). Each Finders' Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.65 for a period of 12 months following the closing of the Offering.
The proceeds of the financing will be used for working capital purposes.
The Offering is being made on a private placement basis pursuant to prospectus exemptions of applicable securities laws and is subject to acceptance by the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a four-month and one day hold period.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The statements in this release relating to matters that are not historical facts (including, without limitation, those regarding the timing or outcome of any financing undertaken by the Corporation) are forward-looking statements that involve certain risks, uncertainties and hypotheses, including, but not limited to, general business and economic conditions, the condition of the financial markets, the ability of Imaflex to obtain financing on a favourable terms and other risks and uncertainties.
SOURCE Imaflex Inc.
Copyright 2014 Canada NewsWire
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