Xtract One closes $11.5-million bought deal

Executive Summary

• Xtract One Technologies Inc. has closed a bought deal public offering with aggregate gross proceeds of $11,500,575.
• The company issued 15,334,100 units at a price of $0.75 per unit, including the full exercise of the underwriters' overallotment option.
• Proceeds are intended for working capital and general corporate purposes.

Key Details

• Transaction Structure: Bought deal public offering conducted by a syndicate of underwriters led by Stifel Canada.
• Units Issued: 15,334,100 units.
• Price Per Unit: $0.75.
• Gross Proceeds: $11,500,575.00.
• Unit Composition: Each unit consists of one common share and one-half of one common share purchase warrant.
• Warrant Terms (Investors):
  • Exercisable into one common share.
  • Exercise Price: $0.95.
  • Expiration Date: November 10, 2028.
• Underwriter Compensation:
  • Cash Fee: $690,034.50.
  • Warrants Received: 920,046 common share purchase warrants.
  • Underwriter Warrant Terms: Exercisable into one common share at an exercise price of $0.75 until November 10, 2028.
• Use of Proceeds: Working capital and general corporate purposes.