Legible Announces Proposed Private Placement of Debenture Units
Legible Inc. (CSE: READ) (FSE: D0T) ( "Legible or the Company), announced today that it intends to complete a non-brokered private placement offering of debenture units (Debenture Units) at a price of $10,000 per Debenture Unit, for gross proceeds of up to $1,000,000 (the Private Placement).
- Legible Inc. (CSE: READ) (FSE: D0T) ( "Legible or the Company), announced today that it intends to complete a non-brokered private placement offering of debenture units (Debenture Units) at a price of $10,000 per Debenture Unit, for gross proceeds of up to $1,000,000 (the Private Placement).
- Each Debenture Unit will consist of: (i) a 15% unsecured convertible debenture of the Company (Debenture) in the principal amount of $10,000; and (b) 50,000 common share purchase warrants (Warrant).
- A finders fee of up to 8% of the gross proceeds of the Private Placement may be paid in cash on all or any portion of the Private Placement.
- Additionally, finders warrants may be issued in an amount up to 8% of the number of Debenture Units sold under the Private Placement.