Avante Logixx Inc. announces closing of bought deal

SP&T Staff
Thursday June 21, 2018
Written by
Avante Logixx Inc. recently announced that it has completed its previously announced offering, on a “bought deal” basis, pursuant to a short form prospectus, including the full exercise of the over-allotment option (the “offering”).

A total of 21,562,500 common shares of the company were sold at a price of $0.40 per share, for a total of $8,625,000.

Avante Logixx intends to use the net proceeds of the offering for organic growth and acquisitions within the company’s core business strategy.

“We are extremely pleased with the success of this offering and look forward to continuing to execute upon our business plan,” said Craig Campbell, CEO, Avante Logixx, in a statement.

The shares issued under the offering were offered by way of a short form prospectus in B.C., Alberta and Ontario, as filed on SEDAR on June 6, 2018, and in the U.S. on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

The offering was co-led by Cormark Securities Inc. and Canaccord Genuity Corp.

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