Business News • MarketWire • Privinvest Enters Into Subscription Agreement to Acquire Units of VendTek Systems |
Privinvest Enters Into Subscription Agreement to Acquire Units of VendTek Systems |
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Privinvest Enters Into Subscription Agreement to Acquire Units of VendTek Systems
TORONTO, ONTARIO--(Marketwire - Oct. 7, 2011) - Privinvest Offshore SAL (Holding) ("Privinvest") entered into a subscription agreement with VendTek Systems Inc. ("VendTek") pursuant to which Privinvest has agreed to purchase by way of private placement in reliance on the minimum amount investment exemption (the "Offering") 3,333,333 units of Vendtek (each, a "Unit") at an issue price of $0.60 per Unit, representing aggregate gross proceeds to VendTek of $2 million. Each Unit is comprised of one common share in the capital of VendTek (the "Common Shares") and one-half of one common share purchase warrant of VendTek (each, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share at an exercise price of $0.75 per share, subject to adjustment, for a period of three years from the date of closing.
View More : http://www.marketwire.com/mw/release.do?id=1570648&sourceType=3
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