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Midpoint Holdings looking to raise up to C$200k

The company has proposed a private placement that will see it issue up to 4mln units
Forex
Proceeds from the share issue will augment working capital.

Foreign exchange platform operator Midpoint Holdings Ltd (CVE:MPT) is to tap the market for up to C$200,000.

The company has proposed a private placement that will see it issue up to 4mln units, with each unit comprising one ordinary Midpoint share and one warrant that can be converted into half a Midpoint share at an exercise price of 10 cents; put another way, two warrants can be exercised to buy one whole Midpoint share at a cost of 20 cents.

Midpoint shares currently trade at 4.5 cents.

Proceeds from the share issue will augment working capital.

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