Sign up Australia
Proactive Investors - Run By Investors For Investors

Midpoint Holdings arranges $250,000 private placement

Midpoint Holdings Ltd. has arranged a non-brokered private placement for up to an aggregate of $250,000, the company said on Monday
Midpoint Holdings arranges $250,000 private placement
Midpoint arranges private placement for $250,000

Midpoint Holdings Ltd. (CVE:MPT) has arranged a non-brokered private placement for up to an aggregate of $250,000, the company said on Monday.

It is in line with company plans to issue up to an aggregate of five million units of shares at a proposed subscription price of five cents per unit, with each unit comprising one common share and one-half of one common share purchase warrant in the capital of the company.

Midpoint operates a peer to peer foreign exchange and international payments platform through its wholly owned United Kingdom subsidiary, Midpoint & Transfer Ltd. The platform allows registered and authorized individuals or companies to conduct foreign exchange transactions for a transparent fee at the interbank midpoint or mid-market rate. The Company supports payments and exchanges in seventeen currencies.

Each whole warrant will entitle the holder thereof to purchase one additional common share of the company for a period of 24 months from the closing of the private placement at an exercise price of 20 cents per warrant common share.

That is provided that if, at any time after the date that is more than four months and one day following the closing of the private placement, the common shares trade on a stock exchange at a volume-weighted average trading price of 50 cents or greater per common share for a period of 20 consecutive trading days, the company may accelerate the expiry date of the warrants by giving notice to the holders thereof, and in such case, the warrants will expire on the 30th day after the date on which such notice is given by the company.

The common shares and the warrants comprising the units issued in connection with the completion of the private placement will be subject to a hold period of four months and one day from the date of closing.

The proceeds of the private placement will be used for the company's general corporate and working capital purposes.

Midpoint shares closed up 7.7% at C$0.07.

View full MPT profile View Profile

Midpoint Holdings Ltd Timeline

Newswire
August 11 2016

Related Articles

house
December 09 2017
The bond is aimed at retail investors who want a part of their portfolio in a ‘safe, bedrock investment’

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use