Business
AVANTE LOGIXX INC. ANNOUNCES CLOSING OF PRIVATE PLACEMENT
AVANTE LOGIXX INC. ANNOUNCES CLOSING OF PRIVATE PLACEMENT
About this update from Avante Corp
[{"type":"text","content":"\n\n\n\n Nov. 11, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTSXV TRADING SYMBOL: XX\n\n\nTORONTO, Nov. 11 /CNW/ - Avante Logixx Inc. (TSXV: XX) (the\n "Corporation") is pleased to announce that it has, subject to final\n approval from the TSX Venture Exchange Inc. (the "Exchange"), completed\n the sale of 6,920,000 units ("Units") of the Corporation for gross\n proceeds of $1,730,000 by way of a non-brokered private placement.  The\n Units were sold at a price of $0.25 per unit. Each Unit consists of one\n common share ("Common Share") and one warrant ("Warrant") of the\n Corporation. Each whole Warrant will entitle the holder to purchase one\n Common Share at a price of $0.40 during the first 24 months following\n closing. The securities issued in connection with the private placement\n will be subject to a four-month hold period under applicable securities\n laws. The Corporation has, after giving effect to the private\n placement, 54,568,843 issued and outstanding Common Shares. The\n proceeds are to be used for, among other things, to fund working\n capital, ongoing research and development activities and to fund\n current liabilities.\n\n\nThe Offering was made to "accredited investors" in the Province of\n Ontario.\n\n\nAbout the Corporation\n\n\nAvante manufactures and markets the innovative Smartboxx™ which provides\n "anytime, anywhere" true two-way communication. The company is foc...