Calgary (pcJ News Briefs) – Fanlogic Interactive Inc. (TSX-V: FLGC), a social network for prizes and incentives, intends to complete a non-brokered private placement of up to 10,000,000 units at $0.15 per unit for gross proceeds of up to $1,500,000.
Each unit consists of one common share and one common share purchase warrant entitling the holder thereof to acquire one additional common share at a price of $0.50 per share for a period of two years after the issuance of the warrant, subject to accelerated expiry.
Proceeds are expected to be used for transaction costs, marketing of the Fanlogic brand, new sales staff, and working capital.
photo credit: moritz320