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Intouch Insight Ltd. announces closing of $3,520,000 financing to fuel cem strategy
Intouch Insight Ltd. announces closing of $3,520,000 financing to fuel cem strategy ...
About this update from Intouch Insight Ltd.
[{"type":"text","content":"\n\n\n\nIntouch Insight Ltd. announces closing of $3,520,000 financing to fuel cem strategy\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nOTTAWA, Nov. 28, 2017\n\n\n\nOTTAWA, Nov. 28, 2017 /CNW/ - Intouch Insight Ltd. (\"Intouch\") (TSXV: INX) today announced that it closed two private placements for $3,000,000 and a $520,000 by way of non-brokered private placements for 6,000,000 Units (\"Units\") at a price of $0.50 per Unit and 1,000,000 units of the Company at a price of $0.52 per Unit (together the \"Offerings\").  Each Unit is comprised of one common share in the capital of the Company (a \"Common Share\") and one half of one Common Share Purchase Warrant. Two half warrants form one Common Share Purchase Warrant.  Each Common Share Purchase Warrant is exercisable into one Common Share at a price of $0.70 per Common Share for 18 months from the closing date of the Offerings.  The TSXV has granted conditional approval for these Offerings.\n\nIn connection with the Offerings the Company will pay $ 262,050 in cash commissions to finders, representing an amount equal to 7.5% of the gross proceeds from the Offerings that were introduced to the Company by finders and 521,250 compensation units (the \"Compensation Units\") representing an amount equal to 7.5% of the number of Units issued to investors introduced to the Company by a finder of which 450,000 Compensation Units will be exercisable at $0.50 and 71,250 Compensation Units will be exercisable at $0.52.  The Compensation Units will be exercisable for 18 months from the date of issuance, for Common Shares and warrants, by the finder on the same terms as the Units under each of the Offerings.  PowerOne Capital Markets Limited acted as a finder in connection with a portion of the Offerings.  \n\nAll the securities issued pursuant to the Offerings including the Compensation Units are subject to a four month and one day hold period from the date of issuance.  Completion of the Offerings are subject to regulatory approval, including acceptance and approval of t...