|
| Home : KIK Polymers Inc.: Final Closing of Over-Subscribed Private Placement |
|
Aug 24
2011 |
KIK Polymers Inc.: Final Closing of Over-Subscribed Private Placement |
|
CALGARY, ALBERTA--(Marketwire - Aug. 24, 2011) - KIK Polymers Inc. (TSX VENTURE:KPI.H) ("KIK") announces that further to its July 18, 2011 press release, it has now closed on a total of $6,469,750 of subscription receipts issued at $0.25 each, which is the maximum amount contemplated under the previously disclosed letter of intent with Edgewater Computer Systems Inc. concerning the acquisiton of Edgewater Wireless by KIK. Upon conditional approval of the proposed Edgewater RTO transaction by the TSX Venture Exchange and other normal closing conditions, the holders of these subscription receipts will be entitled to receive, without further consideration, one common share of KIK and one purchase warrant exercisable for 2 years at $0.45, subject to acceleration of the expiry date in certain circumstances. Certain finders will be paid a cash commission of 7% and receive 1 year warrants exercisable at $0.25 in an amount equal to 7% of the subscription receipts they assisted in placing. |
|
|
|
| Source:http://www.marketwire.com/mw/release.do?id=1553416&sourceType=3 |
| |
|
Related News
|
» Ateba Completes Private Placement
» RedWater Energy Announces Non-Brokered $3.6 Million Financing
|
|
|
