EDMONTON, Alberta, June 28, 2018 (GLOBE NEWSWIRE) -- Wavefront Technology Solutions Inc. (Wavefront or the Company) (TSX-V:WEE) (OTCQX:WFTSF), a global leader in the advancement of dynamic fluid injection technology for oil and gas well stimulation and Improved/Enhanced oil (“IOR/EOR”) recovery is pleased to announce a private placement of up to $1 million through the issuance of 3,333,333 units of the company at a price of CDN $0.30 per unit (the "Unit"), subject to the approval of the TSX Venture Exchange (the "Exchange"). Each Unit will consist of one common share in the share capital of the Company, and one common share purchase warrant (a “Warrant”), with each Warrant being exercisable for one common share of the Company at an exercise price of CDN $0.45 for a period of 12 months after the closing date; provided that, commencing on the date that is four months and one day after the closing of the Offering, if the volume weighted average trading price of a common share on the Exchange is at a price equal to or greater than CDN $0.65 for a period of more than 20 consecutive trading days, the Company will have the right to accelerate the expiry date of the Warrants by giving written notice to the holders of the Warrants that the Warrants will expire on the date that is not less than 30 days from the date notice is provided by the Company to the holder of the Warrant. Insider(s) of the Company are expected to take part for up to approximately 25% of the placement.
Wavefront Technology Solutions Inc. Private Placement of up to $1 Million
Jun 28, 2018
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