COM DEV Intl. Ltd. (CDV.TO) said the company has entered into an agreement with a syndicate of underwriters led by Genuity Capital Markets and including GMP Securities L.P. and Paradigm Capital Inc. The syndicate has agreed to purchase 6.78 million shares from the company at C$2.95 per share, representing an aggregate amount of issue of C$20.001 million. The company expects the financing to close on or about February 26, 2009.
The company said the proceeds of the offering will be used to pursue strategic opportunities, including progressing the commercialization of its Automatic Identification System technology.
For comments and feedback: editorial@rttnews.com