- Danavation Technologies Corp. (DVN) has closed the first tranche of a non-brokered private placement of units for aggregate proceeds of $780,000
- Under the first tranche, Danavation issued 590,000 units at $0.25 per unit
- Proceeds will be used for working capital and for other general and administrative costs
- Danavation Technologies is a Canadian-based, Internet of Things (IoT) technology company
- Danavation Technologies Corp. (DVN) opened trading at C$0.24
Danavation Technologies Corp. (DVN) has closed the second tranche of its previously announced non-brokered private placement for gross proceeds of $780,000.
Under the second tranche, the company issued 3,120,000 units for $0.25 per unit. Each unit consists of one common share and one-half of one share purchase warrant. Each whole warrant entitles the holder to acquire one additional share for a period of two years.
All securities issued will be subject to a statutory four-month hold period.
Proceeds will be used for working capital and other general and administrative costs.
The company may close additional tranches, subject to regulatory approval.
Danavation Technologies is a Canadian-based Internet of Things (IoT) technology company providing micro e-paper displays to organizations across North America.
Danavation Technologies Corp. (DVN) opened trading at C$0.32.
