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Delrand - private placement & delisting
Delrand announced that, further to its September 2, 2016 press release, it has closed a non-brokered private placement of 600,000 common shares of the Company at a price of CAD0.50 per share for gross proceeds of CAD300,000 (the “Offering”). The Company intends to use the proceeds from the Offering to settle accounts payables and for general working capital purposes. All shares issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale requirements of applicable securities regulation.
The Company also reports that, further to its August 31, 2016 press release, the voluntary delisting of the Company’s common shares from the Johannesburg Stock Exchange will be effected on September 26, 2016.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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