Financings
CYMAT PROVIDES UPDATE ON PRIVATE PLACEMENT FINANCING
CYM · Price
Executive Summary
- Cymat Technologies announced an updated private placement of 11,934,615 equity Units for gross proceeds of $1.55 million at $0.13 per Unit.
- Each Unit includes one common share and one warrant to purchase a share at $0.18 for 24 months; no insiders are participating.
- Proceeds will fund capital equipment purchases supporting a major strategic business‑development initiative and general working capital.
Key Details
- Units Offered: 11,934,615 equity Units
- Pricing: $0.13 per Unit (total gross proceeds of $1,551,500)
- Unit Composition: 1 Common Share + 1 Common Share Purchase Warrant
- Warrant Terms: Right to purchase one common share at $0.18; exercisable for 24 months; includes restriction on creating a new insider without TSX‑V approval.
- Insider Participation: None; exemption from formal valuation and minority shareholder approval under MI 61‑101 if a new insider were created (≤25% of market cap).
- Finder/Broker Fees: None – no finder's fees, related compensation, or broker warrants will be issued.
- Use of Proceeds: Capital equipment purchases for a major strategic business development initiative; working capital requirements.
- Trading Hold: Securities subject to a four‑month trading hold period from issuance date.
- Regulatory Condition: Offering pending approval by the TSX Venture Exchange; closing only after such approval is obtained.
Notable Quotes
(No direct quotes were provided in the release.)