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AVANTE LOGIXX INC. ANNOUNCES CLOSING OF SECOND TRANCHE OF PRIVATE PLACEMENT AND GRANT OF OPTIONS
AVANTE LOGIXX INC. ANNOUNCES CLOSING OF SECOND TRANCHE OF PRIVATE PLACEMENT AND GRANT OF OPTIONS
About this update from Avante Corp
[{"type":"text","content":"\n\n\n\n Dec. 8, 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, Dec. 8 /CNW/ - Avante Logixx Inc. (TSXV: XX) (the\n "Corporation") is pleased to announce that it has completed the second\n tranche of a non-brokered private placement of units, namely, the sale\n of 1,340,000 units ("Units") of the Corporation for gross proceeds of\n $335,000.  The Units were sold at a price of $0.25 per unit. Each Unit\n consists of one common share ("Common Share") and one warrant\n ("Warrant") of the Corporation. Each whole Warrant will entitle the\n holder to purchase one Common Share at a price of $0.40 during the\n first 24 months following closing. The securities issued in connection\n with the private placement will be subject to a four-month hold period\n under applicable securities laws. The Corporation has, after giving\n effect to the private placement, 55,908,843 issued and outstanding\n Common Shares. The proceeds are to be used for, among other things, to\n fund working capital, ongoing research and development activities and\n to fund current liabilities.  The Offering was made to "accredited\n investors" in the Province of Ontario.\n\n\nThe Corporation also announced that it granted options to acquire\n 192,500 common shares to directors of the Corporation on December 3,\n 2010 at an option price of $0.22 subject to the terms and conditions of\n a Stock Option Plan approved on Septe...