29 Jan Tracker closes $553,260 first tranche of placement
TRACKER VENTURES CORP. CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT
Tracker Ventures Corp. has closed the first tranche of a previously announced financing of up to 1.5 million units. The closing of the first tranche of the offering is subject to all required regulatory approvals.
The company has issued 851,169 units at a price of 65 cents for total gross proceeds of $553,260 in connection with the first tranche. Each unit is composed of one common share and one-half share purchase warrant. Each whole warrant is exercisable into one share at a price of $1.30 for a period of two years from the date of issuance.
In connection with the first tranche, the company issued 33,646 finders’ warrants and paid a cash fee of $21,876.40 to certain finders. Each finder’s warrant is exercisable at a price of $1 for a period of two years from the date of issuance.
All securities issued will be subject to a four-month statutory hold period.
The company intends to use the net proceeds of the offering toward general working capital.