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Lite Access Announces Increase of Private Placement Financing
Lite Access Announces Increase of Private Placement Financing Canada NewsWire VA...
About this update from Ironman International Ltd.
[{"type":"text","content":"\n\n\n\nLite Access Announces Increase of Private Placement Financing\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\nVANCOUVER, Feb. 24, 2020\n\n\n\nVANCOUVER, Feb. 24, 2020 /CNW/ - LITE ACCESS TECHNOLOGIES INC. (the \"Company\") (TSX VENTURE: LTE) (OTC PINK: LTCCF) is pleased to announce that it has increased the size of its previously announced private placement financing (see news release dated February 14, 2020 and February 21, 2020).  Due to oversubscribed demand, the private placement financing will increase from 5,000,000 units (each a \"Unit\") to 7,300,000 Units at $0.50 per Unit for gross proceeds of up to $3,650,000 (the \"Offering\").\nEach Unit will continue to consist of one common share of the Company and one share purchase warrant (each a \"Warrant\"), with each Warrant entitling the holder to purchase one additional common share for a period of three years from the date of the issue at an exercise price of $0.65 per share.  The Company has the right to accelerate the expiry date of the Warrants if, at any time, the volume weighted average price of the Company's common shares is equal to or greater than $0.85 for 20 consecutive trading days.  In the event of acceleration, the expiry date will be accelerated to a date that is 15 business days after the Company issues a news release announcing that it has elected to exercise this acceleration right.\nThe Company may pay finders a fee in cash and/or share purchase warrants in connection with the Offering.  The proceeds of the Offering will be used for potential acquisitions and working capital purposes.\nCompletion of the financing is subject to the acceptance of the TSX Venture Exchange.\nAbout Lite Access\nLite Access Technologies Inc. is a world leader in the use of innovative and proven micro/narrow trenching technologies, alternate methods of deployment and specialist products which transform the cost the network deployment for telecommunications operators. \nAs part of its suite of services Lite Access provides clients with integrated solutions or select com...