Quikflo Health (CVE:QF) said on Monday it expects to have its first closing early next week of a non-brokered private placement of up to $7.5mln.
The company is offering units at a price of 7.5 cents per unit, with each unit consisting of one common share and one-half of a share purchase warrant entitling the holder to purchase one additional common share for 15 cents for a period of two years from closing.
The warrants will contain a forced conversion provision that if the shares of the company trade at 25 cents or more for a period of 10 trading days, the company has the option to accelerate the expiry date to no less than 30 days from a press release advising of the same. The company will pay qualified finders a commission of 8 per cent in cash and finders’ warrants.
Story by ProactiveInvestors