Synergex, an international sales, marketing and distribution company, has closed private equity placements with several of its insiders, resulting in proceeds of approximately USD85,000.
The proceeds will be added to the company’s working capital in exchange for common shares issued from treasury.
The company received full consideration for the issuance of an aggregate of 242,859 common shares of Synergex from treasury. It received consideration at a fixed price of USD0.35 per share, representing a premium to the market price of the common shares.
"We are making progress in our objective of supporting the company’s bottom line growth. The investments made by Synergex’ insiders through the private equity placement demonstrates the confidence of our directors and officers in Synergex’ accomplishments, strategy, and direction," says David Aiello, president and chief executive officer.
Synergex is headquartered in Mississauga, Ontario, with operations across North, Central and South America.
