First Global Announces Private Placement of Units of Common Shares and Warrants

First Global Data (TSXV:FGD) announced its proposal to raise a maximum of CDN $3 million of gross proceeds from the sale of up to $30 million units priced at $0.10 each.
As quoted in the press release:

Each Unit is expected to be comprised of one (1) common share in the capital of the Company (a “Common Share”) and one (1) Common Share purchase warrant (a “Warrant”) entitling the holder to purchase one (1) Common Share for a period of three (3) years from the closing date of the Offering (the “Warrant Expiry Date”) at an exercise price of CDN $0.20 per Common Share. The Offering is anticipated to close on or about November 18, 2016.
Proceeds from the Offering will be used to fund the Company’s continued expansion of its mobile payment service in target markets around the world, and for general working capital.

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