Parta Dialogue Inc. announces $2.5 million private placement
PARTA Dialogue experts in Social Media and Social Learning for businesses, is pleased to announce it has entered into an agreement with Byron Capital Markets Ltd. and Industrial Alliance Securities Inc. to sell up to 10,000,000 common shares at a price of $0.25 per common share on a commercially reasonable efforts private placement basis for gross proceeds of up to $2,500,000.
- (1888PressRelease) March 02, 2012 - Montreal, Paris - PARTA Dialogue Inc. (TSXV: PAD) ("PARTA" or the "Company"), experts in Social Media and Social Learning for businesses, is pleased to announce it has entered into an agreement with Byron Capital Markets Ltd. and Industrial Alliance Securities Inc. (together, the "Agents") to sell up to 10,000,000 common shares at a price of $0.25 per common share on a commercially reasonable efforts private placement basis for gross proceeds of up to $2,500,000 (the "Base Offering"). In addition, the Company has granted the Agents an overallotment option to sell up to an additional 2,000,000 common shares (the "Over-Allotment Option" and together with the Base Offering, the "Offering").
Proceeds from the Offering will be used to accelerate the commercialization of its e-Value™ application, fund potential acquisitions and for general working capital purposes.
The common shares of the Company being issued pursuant to the Offering will be issued in reliance upon exemptions from the prospectus and registration requirements of applicable Canadian securities legislation and will be subject to a four-month plus a day hold period from the date of issuance. Completion of the contemplated Offering is subject to regulatory approval including that of the TSX Venture Exchange.
Closing of the Offering is anticipated the week of March 5, 2012 and is subject to receipt of regulatory approvals, including approval of the TSX Venture Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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