AgriMarine Holdings Inc. Announces Private Placement
AgriMarine Holdings Inc., is pleased to announce a non-brokered private placement of up to 7,200,000 units at a price of USD0.25 per unit for gross proceeds of up to USD1,800,000, subject to the approval of the TSX Venture Exchange, reports www.megafishnet.com with reference to AgriMarine Holdings.
Each unit will be comprised of one common share in the capital of the Company and one-half common share purchase warrant. Each whole warrant will entitle the holder to purchase an additional common share at a purchase price of USD0.40 for a period of two years from the date of issue. The warrant expiry may be accelerated at the Company's discretion if the share price of the Company trades at a price equal to or higher than USD0.60 for a period of 10 consecutive days.
Finder's fees may be payable in connection with a portion of the private placement, in accordance with TSX Venture Exchange policies. The net proceeds of the private placement will be used by the Company for the stocking of the first tank at Middle Bay and for general corporate purposes.