RE:RE:CSTR GETTING BETTER !!! Looks like we have finally caught the attention of the 'big boys'....interesting that this offering is being sold in Canada....future looks good....Chinese/HongKong money and US Investors....what a great combo...good trading and glta.
0.435 cts cad
Cryptostar arranges $25-million private placement
2021-03-11 00:17 ET - News Release
Mr. David Jellins reports
CRYPTOSTAR CORP. ANNOUNCES CAD$25 MILLION PRIVATE PLACEMENT WITH INSTITUTIONAL INVESTORS
Cryptostar Corp. has entered into a securities purchase agreement for a private placement of its common shares and warrants to purchase common shares to institutional investors for gross proceeds of approximately $25.0-million. Pursuant to the Private Placement, the Company will issue up to 83,333,334 Common Shares and Warrants to purchase up to 83,333,334 Common Shares at a purchase price of CAD$0.30 per Common Share and associated Warrant. Each Warrant will entitle the holder to purchase one Common Share at an exercise price of CAD$0.40 per Common Share for a period of three and one-half (3.5) years following the closing date of the Private Placement.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the Private Placement.
The net proceeds of the Private Placement will be used by the Company for business operations and expansion of its business, to reduce indebtedness and for general working capital purposes.
The Company has applied to list the Common Shares issued in the Private Placement and the Common Shares underlying the Warrants on the TSX Venture Exchange ("TSXV"). The Private Placement is expected to close on or about March 15, 2021, subject to satisfaction of customary closing conditions, including receipt of conditional approval by the TSXV for the Private Placement.
No securities were offered or sold to Canadian residents in connection with the Private Placement.
Bandit22 wrote: 25 million private placement. This explains why the share price didn't take off today...we were at the mercy of institutional investors...as our most of our peers
On the bright side... nobody puts 25 million into a company without knowing and expecting that there are big returns to be had. We should see the share price increase from here now. Our new investors will make sure of it....
Enjoy the ride...
Bandit22