Latest News

CSI Wireless Closes $3.8M Private Placement

By | August 11, 2003

      CSI Wireless [TSX: CSY], a Calgary, Canada-based designer and manufacturer of wireless and GPS products, has successfully closed an offering of 3,305,750 stock and warrant units. The units were

      issued at a price of C$1.60 (US$1.16) per unit for gross proceeds of approximately C$5.3 million (US$3.8 million).

      Each unit is comprised of one CSI common share and one warrant to purchase a CSI common share. Each whole warrant entitles the holder to acquire one common share at a price of C$2.00 (US$1.45) per share until Aug. 8, 2005. The financing was completed through CIBC World Markets and Griffiths McBurney & Partners, with CIBC WM acting as lead agent. CSI intends to use the proceeds to pay down debt and for working capital purposes to fund the general growth of its business.

      Leave a Reply