Business
Parkit Announces Rights Offering
Parkit Announces Rights Offering Canada NewsWire VANCOUVER, Nov. 7, 2018 ...
About this update from Parkit Enterprise Inc.
[{"type":"text","content":"\n\n\n\nParkit Announces Rights Offering\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Nov. 7, 2018\n\n\n\n/NOT FOR DISTRIBUTION IN THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n VANCOUVER, Nov. 7, 2018 /CNW/ - Parkit Enterprise Inc. (TSXV: PKT; OTCQX: PKTEF) (the \"Company\" or \"Parkit\") is pleased to announce that it will be conducting an offering of rights (each, a \"Right\") for gross proceeds of up to $5,000,000 (the \"Rights Offering\") to holders of its common shares (each, a \"Common Share\") resident in Canada at the close of business on November 14, 2018 (the \"Record Date\"). Each shareholder as of the Record Date will be issued 0.5336 of one Right for each Common Share held. Every one whole Right will entitle the holder to subscribe for one Common Share of the Company at a subscription price of $0.29 per Common Share. \n\n \n \n\n \nThe Rights will be listed for trading on the TSX Venture Exchange (the \"Exchange\") under the symbol \"PKT.RT\" commencing on November 13, 2018 and will be de-listed from the Exchange at 9:00 a.m. (Vancouver time) on December 14, 2018 (the \"Expiry Date\"), after which time unexercised Rights will be void and of no value. The Rights Offering includes an additional subscription privilege under which eligible holders of Rights, who fully exercise their Rights, will be entitled to subscribe, on a pro rata basis with other shareholders who participate in the oversubscription, for Common Shares that have not been purchased under the Rights Offering. Parkit intends to use the net proceeds of the Rights Offering for identification and evaluation of new projects.\nThe Rights issued under the Rights Offering will be evidenced by transferable Rights certificates (each, a \"Rights Certificate\") which will be mailed, together with a rights offering notice, to all registered holders of Common Shares in a province or territory of Canada as of the close of business on the Record Date. Eligible registered shareholders who wish to exercise t...