COV. shades of MTM COV. just did a pp for .052 cents Mandel bought 300,000 shares. I am wondering if MTM kicked in more money for part of the PP. Our .30 cent investment in COV. was just priced at .052 Cents.
This PP as far as I can find out was not pre announced !
Covalon Announces Closing of Non-Brokered Private Placement
MISSISSAUGA, ON, Oct. 26, 2012/CNW/ - Covalon Technologies Ltd. (the "Company" or "Covalon") (TSXV: COV), an advanced medical technologies company, today announced the closing of a non-brokered private placement comprised of 9.55 million units at a price of $0.052per unit for gross proceeds of $496,600. Each unit is comprised of one common share and one common share purchase warrant. Each common share purchase warrant entitles the holder to acquire an additional common share at a price of $0.10per share for a period of five years from the closing date. All securities issued pursuant to the Offering will be subject to a hold period expiring February 27, 2013. Directors and officers of Covalon participated in the non-brokered private placement for an aggregate of 1.8 million units. Proceeds of the private placement will be used by Covalon to develop and commercialize new wound care products,