Cymat announcmentCymat Technologies Ltd. ("Cymat" or the "Company") today announced that it has completed its non-brokered private placement financing in the amount of $2,640,280. Fraser MacKenzie acted as the Company's fiscal advisor in connection with the offering. The Company issued a total of 9,031,190 Units (comprising a common share and a warrant to purchase a common share) at $0.14 per Unit and 9,827,945 Subscription Receipts (which become Units on approval by the Company's shareholders of the issue of the securities underlying the Units), also at $0.14 per Subscription Receipt.
The warrants expire 2 years from closing of the transaction and are exercisable as follows: $0.25 for a period of 12 months following closing and $0.35 for the 12 months thereafter.