|
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 18, 2011) - Verisante Technology, Inc. (TSX VENTURE:VRS)(PINK SHEETS:VRSEF) (the "Company" or "Verisante") announces that it intends to complete a non-brokered private placement of up to 12,500,000 units at a price of $0.40 per unit for proceeds of up to $5,000,000 (the "Offering"). 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 $0.50 per share with an expiry date of 24 months from the closing of the private placement. Closing of the Private Placement is scheduled on or before April 15, 2011 or at any other such time as the Company may decide, subject to the approval of the TSX Venture Exchange and other customary conditions. The common shares will be subject to a four month statutory hold period. |
