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Lifestyle Delivery Systems Closes Non-Brokered Private Placement
Sep. 12, 2016 11:24AM PST
Medical Device InvestingLifestyle Delivery Systems Inc. (CSE:LDS,OTCQB:LDSY) announced the closing of its non-brokered private placement offering at a price of $0.18 per Unit, of which the first tranche totaling 2,653,000 units for gross proceeds of $477,540 was closed on August 25, 2016. As quoted in the press release: In the second and final tranche, the Company issued …
Lifestyle Delivery Systems Inc. (CSE:LDS,OTCQB:LDSY) announced the closing of its non-brokered private placement offering at a price of $0.18 per Unit, of which the first tranche totaling 2,653,000 units for gross proceeds of $477,540 was closed on August 25, 2016.
As quoted in the press release:
In the second and final tranche, the Company issued additional 3,972,778 units for gross proceeds of $715,100. Due to strong investor demand, the Offering was oversubscribed.
Each Unit sold under the Offering consists of one common share of the Company and one share purchase warrant entitling the holder to purchase one additional common share for a period of one year after closing at an exercise price of $0.18 per share.
The securities issued under the second tranche of the Offering will be subject to a hold period expiring on January 10, 2017, pursuant to applicable Canadian securities laws.