Stock Symbol: IFX
MONTREAL, Dec. 31, 2014 /CNW Telbec/ - Imaflex Inc. (TSXV: IFX) ("Imaflex" or the "Corporation") is pleased to announce that it has increased and completed today its previously announced non-brokered private placement (the "Offering"). Pursuant to the Offering, the Corporation has received subscriptions for 4,055,666 units (the "Units") at a price of $0.45 per Unit for gross proceeds of $1,825,050. Each Unit is comprised of one common share of the Corporation (the "Common Shares"), and one half of one common share purchase warrant (the "Warrants"). Each full Warrant will entitle the holder thereof to purchase one additional Common Share at an exercise price of $0.65 per Common Share for a period of twelve months from the closing of the Offering.
The Corporation has received subscribers referrals from different finders (the "Finders") in connection with the Offering. The Corporation has paid to the Finders a cash commission equal to 6.0% of the gross proceeds of the Offering from subscribers introduced to the Corporation by such Finders. The Corporation has also issued to the Finders finders' fee options equal to 6.0% of the total number of Units sold pursuant to the Offering to subscribers introduced to the Corporation by such Finders (collectively, the "Finders' Warrants"). Each Finders' Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.65 for a period of twelve months following the closing of the Offering.
One insider of the Corporation has subscribed to 10,000 Units and five pro-group members of the Corporation have subscribed to an aggregate of 766,222 Units pursuant to the Offering.
The proceeds of the Offering will be used for working capital purposes.
The Offering was carried on a private placement basis pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the TSX Venture Exchange. All securities issued in connection with the Offering are subject to a four-month and one day hold period.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Imaflex Inc.
For further information: Imaflex Inc.: Joseph Abbandonato, President and C.E.O, Giancarlo Santella, CA - Corporate Controller, Tel: (514) 935-5710, Fax: (514) 935-0264, e-mail: [email protected], Website: www.imaflex.com