Infowave private placement
Infowave Wireless Messaging Inc IWM
Shares issued 15,305,655 Jul 14 close $3.57
Thu 15 Jul 99 Private Placement
The Vancouver Stock Exchange has accepted for filing a brokered private
placement of:
No. of special Wt: 2,224,647
Price: $3.25
Warrants: For 1,112,324 shares
Wt exercise price: $3.75 for one year
Placees: Working Ventures Canadian Fund Inc. 307,692; Capital
Research and Management Company Partners LP 225,647;
Paloma Strategic Fund LP 200,000; and 27 others
Agents: Canaccord Capital Corporation, Yorkton Securities Inc.,
Sprott Securities Ltd. and Taurus Capital Markets Ltd.
Agents' fees: The company will pay the agents a cash commission equal
to 7.5 per cent of the gross proceeds from the sale of
special warrants.
Agents' Wt: The agents will also be issued special warrants to
acquire, without payment of additional consideration,
agents' warrants which will entitle the agents to
purchase such number of common shares of the company
equal to 10 per cent of the special warrants at an
exercise price of $3.25 per common share for 12 months.
The company has covenanted to use its best efforts to obtain the receipts
for the final prospectus within 90 days of closing of the private
placement. If the receipts are not obtained within 90 days, holders of
special warrants will be entitled to receive 1.1 shares and 0.55
share-purchase warrants for each special warrant held. |
