13th June 2012

CounterPath Announces Private Placement

counterpathCounterPath Corporation, an award-winning provider of desktop and mobile VoIP software products and solutions based in Vancouver, has announced that it intends to complete a non-brokered private placement of up to 1,400,000 units of the Company at CDN$2.50 per Unit for total gross proceeds of up to CDN$3,500,000.  The Company may increase the size of the private placement if warranted.  The Company plans to use the proceeds from the Offering towards general working capital.

Each Unit consists of one common share and one-half of one share purchase warrant, with each warrant entitling the holder to acquire an additional common share at an exercise price of US$3.25 per common share for a period of two years from the closing date.

All of the securities to be issued by the Company in connection with the Offering will be subject to a hold period, which expires four months and a day after the closing date.  The Offering is expected to close on or before June 19, 2012 and is subject to approval from the TSX Venture Exchange.

This entry was posted on Wednesday, June 13th, 2012 at 5:04 am and is filed under Business News, National News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
  1. Tami Quiring (@VillageGamer)
    7:10 am on June 13th, 2012

    .@CounterPath Announces Private Placement http://t.co/ZYKD3Njp

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