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NexOptic Technology (TSXV: NXO) and Spectrum Optix have announced the intentions to complete a non-brokered private placement of up to 2,750,000 units of NexOptic at an issue price of $1.10 per Unit, for gross proceeds of up to $3,025,000. As quoted in the press release: Each Unit is comprised of one common share in the capital of …
NexOptic Technology (TSXV: NXO) and Spectrum Optix have announced the intentions to complete a non-brokered private placement of up to 2,750,000 units of NexOptic at an issue price of $1.10 per Unit, for gross proceeds of up to $3,025,000.
As quoted in the press release:
Each Unit is comprised of one common share in the capital of NexOptic (the “NexOptic Shares”) and one common share purchase warrant (each a “Warrant”). Each Warrant will entitle the holder to purchase one additional NexOptic Share at an exercise price of CDN $1.50 for a period of 18 months from the date of issuance of the Units.
The net proceeds from the Private Placement are intended to fund development of the Companies’ first commercial application and the previously announced mobile device optical system currently in the engineering and development stage, as well as other next generation lens systems and for general working capital purposes. Finder’s fees may be payable on all or portions of the Private Placement, in accordance with the policies of the Exchange.