Gatekeeper Systems closes $13.49-million financing

Executive Summary

• Gatekeeper Systems Inc. has closed its previously announced brokered private placement, raising aggregate gross proceeds of approximately $13.5 million.
• The company issued 6,427,476 common shares at a price of $2.10 per share, including the full exercise of the underwriters' 25% over-allotment option.
• Net proceeds are designated for pursuing growth opportunities, financing working capital for recently awarded major contracts, and general corporate purposes.

Key Details

• Transaction Structure: Brokered private placement completed on a "bought deal" basis.
• Underwriters: Canaccord Genuity Corp. and Raymond James Ltd. acted as co-lead underwriters and joint bookrunners.
• Shares Issued: Aggregate of 6,427,476 common shares.
  • Base offering: 4,800,000 shares.
  • Over-allotment option: 1,627,476 shares (exercised in full).
• Price: $2.10 per offered share.
• Gross Proceeds: $13,497,699.60.
• Underwriter Commission: $809,862 (6.0% of gross proceeds).
• Use of Proceeds: Pursue growth opportunities, finance working capital for recently awarded major contracts, and general corporate purposes.
• Regulatory Status: Completed in reliance on the listed issuer financing exemption under National Instrument 45-106; subject to final approval of the TSX Venture Exchange.

Notable Quotes

• None provided in the text.