13:05:21 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



TrackX Holdings Inc
Symbol TKX
Shares Issued 55,892,211
Close 2017-04-20 C$ 0.44
Market Cap C$ 24,592,573
Recent Sedar Documents

TrackX Holdings arranges $3.5-million bought deal

2017-04-20 16:39 ET - News Release

Mr. Knox Henderson reports

TRACKX ARRANGES $3.5 MILLION BOUGHT DEAL PRIVATE PLACEMENT

TrackX Holdings Inc. has entered into an agreement with a syndicate of underwriters led by Haywood Securities Inc., and including Canaccord Genuity Corp. and Paradigm Capital Inc., under which the underwriters have agreed to purchase, on a bought deal private placement basis, 9,210,527 units of TrackX at a price of 38 cents per unit for gross proceeds of $3,500,000.26.

Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one additional common share at an exercise price of 55 cents per share for a period of 24 months from the date of closing of the private placement. The expiry date of the warrants may be accelerated by TrackX at any time following the six-month anniversary of the closing and prior to the expiry date of the warrants if the volume-weighted average trading price of the common shares is greater than 75 cents for any 20 consecutive trading days, at which time the company may accelerate the expiry date of the warrants by issuing a press release announcing the reduced warrant term whereupon the warrants will expire on the 20th calendar day after the date of such press release.

TrackX has granted the underwriters an option to purchase up to an additional 1,381,579 units at the issue price, exercisable at any time, in whole or in part, until 48 hours prior to the closing of the private placement.

The offering will take place by way of a private placement to qualified investors in such provinces of Canada as the underwriters may designate, and otherwise in those jurisdictions where the offering can lawfully be made under applicable private placement exemptions. The securities to be issued under the offering will have a hold period of four months and one day from closing of the offering.

The proceeds from the offering will be used for the company's growth initiatives, potential merger and acquisitions, and general working capital purposes.

The offering is expected to close on or about May 8, 2017, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

We seek Safe Harbor.

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