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| Home : CSM Announces Completion of Over-Subscribed Private Placement |
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Sep 12
2012 |
CSM Announces Completion of Over-Subscribed Private Placement |
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EDMONTON, ALBERTA--(Marketwire - Sept. 11, 2012) - CSM Systems Corp. (TSX VENTURE:CKX)("CSM") is pleased to announce that it has completed a private placement financing as first announced on July 19, 2012. Under the offering, which was over-subscribed, CSM issued 11,050,000 units ("Units") at a price of $0.05 per Unit (the "Private Placement") for gross proceeds of $552,500. Each Unit is comprised of one (1) common share ("Common Share") and one-half (1/2) Common Share purchase warrant (each whole warrant being a "Warrant"). Each Warrant entitles the holder to purchase one (1) additional Common Share at a price of $0.10 per Common Share for a period of twenty-four (24) months following the date of closing, provided that if after four months and one day following the closing date the closing price of the Common Shares is equal to or exceeds $0.15 for twenty (20) consecutive days, then the Warrants shall automatically accelerate to expire on the date which is thirty (30) days following the date a press release is issued by CSM announcing the reduced warrant term or the date that written notice has been given to the warrantholder. |
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| Source:http://www.marketwire.com/mw/release.do?id=1700241&sourceType=3 |
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