Two private placements for $2.4-million
Biometric Security Corp BMS
Shares issued 20,834,412 Nov 11 close $0.20
Fri 13 Nov 98 News Release
Mr. Patrick McCleery reports
The company has agreed in principle with Goepel McDermid Securities to act
as an agent in a brokered private placement. Goepel has agreed in
principle, to place, on a best efforts basis, 6,666,666 units at 15 cents
per unit for $1,000,000. Each unit will consist of one share and one
two-year warrant to purchase an additional share at 15 cents in the first
year and 17 cents in the second. Goepel will receive a commission of 10 per
cent, payable in cash, and a two-year broker warrant exercisable for shares
not exceeding 15 per cent of the number of units issued pursuant to the
private placement. The broker's warrants will be exercisable at 15 cents in
the first year and 17 cents in the second. The funds will be used for
working capital.
The company has also agreed in principle with Global Resource Investments
of Carlsbad, California to act as an agent in a brokered private placement.
Global has agreed, in principle, to place 9,333,333 units at 15 cents for
$1,400,000. Each unit will consist of one share and one two-year warrant to
purchase an additional share at 15 cents in the first year and 17 cents in
the second. Global will receive a commission of 10 per cent, payable in
cash, and a two-year broker warrant exercisable for shares not exceeding 15
per cent of the number of units issued pursuant to the private placement.
The broker's warrants will be exercisable at 15 cents in the first year and
17 cents in the second. The funds will be used for working capital.
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BTW The technology will be exhibited at the Comdex show in Las Vegas by Keysource--who have partnered with BioID in developing a specialized keyboard using the finger print ID technology |
