- China Keli Electric Company (ZKL.H) has completed its previously announced non-brokered private placement
- The company issued 4,347,826 common shares at $0.23 per share for aggregate gross proceeds of $1,000,000
- Proceeds will be used to settle the principal and interest on the company’s $200,000 bridge loan and other debt
- China Keli Electric Company Ltd. is the holding company of its operating subsidiary, Zhuhai Keli Electric Co., Ltd.
- China Keli Electric Company Ltd. (ZKL.H) is unchanged, trading at C$0.355 per share at 1 pm ET
China Keli Electric Company (ZKL.H) has completed its previously announced non-brokered private placement.
The company issued 4,347,826 common shares at $0.23 per share for aggregate gross proceeds of $1,000,000. One company insider subscribed for 50,000 shares.
The company will pay a finder’s fee of $52,418.80.
Proceeds will be used to settle the principal and interest on the company’s $200,000 bridge loan, pay outstanding accounts and invoices, and provide the company with working capital to seek new business opportunities.
China Keli has settled $745,531 of outstanding debt through the issuance of 3,241,439 common shares at a price of $0.23 per share.
The company’s issued and outstanding capital is now 12,110,026 common shares.
Shares issued are subject to a hold period expiring December 6, 2021.
China Keli Electric Company Ltd. is the holding company of its operating subsidiary, Zhuhai Keli Electric Co., Ltd.
China Keli Electric Company Ltd. (ZKL.H) is unchanged, trading at C$0.355 per share at 1 pm ET.