This is a small amount of money being raised ... Apparently, EXROF is a Frugal Company which manages money well ... Most smaller companies would never do such a small stock placement.
March 25, 2019 EXRO COMPLETES $2,045,125 PRIVATE PLACEMENT
VANCOUVER, B.C. – Exro Technologies Inc. (CSE:XRO; OTCQB: EXROF) (the “Company”) is pleased to announce that it has now completed its non-brokered private placement financing announced on March 22, 2019 and issued a total of 8,180,500 common shares for gross proceeds of $2,045,125. The Company has paid aggregate cash Finder’s fees of $143,158.75 as well as issued 572,635 Finder’s Warrants. Each Finder’s Warrant is exercisable to acquire one common share for a period of 12 months from the closing at an exercise price of $0.35 per share. Proceeds raised from the sale of this Offering will be applied to engineering development, transactional costs and to general working capital.
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