ATI AirTest (AAT) is pleased to provide closing details regarding its recent oversubscribed non-brokered private placement offering.
In early April, the company issued 9,927,001 units at a price of $0.12 per unit for total gross proceeds of $1,191,240.12.
Each unit consists of one common share and one warrant. Each warrant entitles the holder to purchase one additional common share at a price of $0.20 for a period of 24 months. AirTest reserves the right to accelerate the expiry of the warrants by giving notice to the holders.
Finder's fees were paid to Cannacord Genuity Corp. consisting of a cash commission equal to $34,876.80 and 290,640 finder warrants. The company paid a cash commission of $26,040 and 217,000 finder warrants to PI Financial Corp.
All securities issued are subject to a statutory hold period of 4 months plus one day.
Proceeds from the placement will be used for inventory, research & development and general working capital.
AirTest Technologies is a Green-Tech IoT company with proprietary sensor technologies that drive energy savings while improving air quality in commercial and government structures.
ATI Airtest Technologies Inc. (AAT) is currently trading at C$0.06 per share.