Drole de décision, placement a 14 cents quand le titre se transige a 18 cents?
au moins aucun warrants associé.
Mais seulement 3M des 14M de warrants ont été exercé (a 15 cents), ce qui peux expliquer le placement si bas.
Kraken Provides Update on Capital Structure
Warrants Exercised and Announcement of Non-Brokered Private Placement
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
ST. JOHN’S, Newfoundland, Feb. 20, 2018 (GLOBE NEWSWIRE) – Kraken Robotics Inc. (TSX-V:PNG) (OTCQB:KRKNF) (“Kraken” or the “Company”), is pleased to announce that it is undertaking a non-brokered private placement offering for aggregate gross proceeds of up to CDN$1.5 million (the “Offering”).
Pursuant to the Offering, the Company may issue an aggregate of up to 10,714,285 common shares (the “Shares”) at a price of CDN$0.14 per Share. There are no warrants being issued as part of this offering. All shares issued under the Offering will be subject to a four month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.
The closing of the Offering is expected to occur on or about February 26, 2018 and remains subject to receipt of all necessary regulatory approvals including acceptance for filing by the TSX Venture Exchange. The Company intends to use the net proceeds of the Offering to build inventory for customer trials and general corporate and working capital purposes. A finder’s fee may be paid by the Company through the issuance of finder shares in an amount equal to 6% of the Shares placed with subscribers introduced by any finder under the Offering.
“The recent exercise of warrants, an equity private placement, and a new short-term loan from RBC provide funding to build additional inventory for customer evaluations and improve our working capital. In addition, we expect that the investors in this financing will have a positive, long-term view of the Company,” said Karl Kenny, President and CEO of Kraken. “Revenues from our core sensor and systems products continue to gain traction in both military and commercial applications.”
Warrant Exercise Update
Kraken had 14,063,326 warrants, each exercisable into one common share at CDN$0.15 per share with an expiry of February 18, 2018. A total of 2,888,408 of these warrants were exercised resulting in proceeds of CDN$419,761. Of this amount, CDN$100,000 was received in 2017 through early exercise of warrants. The remaining 11,174,918 warrants were not exercised and have expired.
Escrow Release & Current Capital Structure
As part of Kraken’s original RTO transaction in February 2015, approximately 51 million shares were held in escrow and released from escrow every six months over three years. The final escrow release of 7,647,108 occurred as of February 18, 2018. Of this final release, Karl Kenny and Elizabeth Hayden-Kenny accounted for 6,776,633 shares or approximately 90% of the escrowed shares. Mr. Kenny and Ms. Hayden-Kenny control more than 35 million Kraken shares and are focused on the long-term fundamentals and growth of Kraken’s business.