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| Home : PUDO Inc. Announces Closing of $1.17 Million Private Placement |
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Feb 13
2016 |
PUDO Inc. Announces Closing of $1.17 Million Private Placement |
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TORONTO, ONTARIO--(Marketwired - Feb. 12, 2016) - PUDO Inc. ("PUDO" or the "Company") (CSE:PDO)(OTCQB:PDPTF) is pleased to announce the closing of its previously announced non-brokered private placement (the "Offering") of 468,967 units of the Company (each, a "Unit") at a price of $2.50 per Unit for aggregate gross proceeds of approximately $1,172,400. Each Unit consisted of one (1) common share (each, a "Common Share") and one-half of one (1/2) common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant is exercisable to acquire one (1) Common Share at a price of $4.00 for a period of 12 months following the issuance date, provided that if after four (4) months and one (1) day following the closing of the Offering, the closing price of PUDO's Common Shares on the Canadian Securities Exchange is equal to or greater than $4.80 for 14 consecutive trading days, then the Company may accelerate the expiry date of the Warrants by disseminating a press release and in such case the Warrants will expire on the 20th business day after the date on which such press release is disseminated by the Company. |
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| Source:http://www.marketwired.com/mw/release.do?id=2096536&sourceType=3 |
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