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Article: Pelorus Navigation Systems Closes Private Placement.
- Article from:
- Business Wire
- Article date:
- April 23, 1996
CopyrightCOPYRIGHT 1996 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CALGARY, Alberta--(BUSINESS WIRE)--April 23, 1996--PELORUS NAVIGATION (Alberta Stock Exchange: PN) Pelorus Navigation Systems Inc. ("Pelorus") announces that it has closed its previously announced private placement of 1,200,000 units ("Units") at a price of $2.00 per Unit through Acumen Capital Finance Partners Limited, as lead agent for gross proceeds of $2.4 million.
Each Unit was comprised of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share at a price of $2.50 until October 23, 1997.
Proceeds from the private placement will be used in connection with the certification of ...