Brief: Kaizen Discovery announces rights offering

Kaizen Discovery

10/11/2016 12:30

Nov 10 (Reuters) - Kaizen Discovery Inc  KZD.V  
    * Rights offering to raise gross proceeds of approximately 
C$7.3 million 
    * Kaizen says in connection with rights offering, has 
entered into standby commitment agreement with its largest 
shareholder, HPX Techco Inc 
    * Kaizen Discovery inc says aggregate subscription amount 
for hpx will be approximately C$4.9 million 
    * Kaizen Discovery Inc says under standby commitment 
agreement, Kaizen will issue 2.1 million non-transferable 
warrants to HPX. 
    * Kaizen Discovery Inc says each warrant will entitle hpx to 
acquire one common earnings per share of co at exercise price 
C$0.155 at any time on or before Jan 11, 2022 
    * Kaizen discovery announces rights offering 
 
Source text for Eikon:  urn:newsml:reuters.com:*:nCCN9qh6Zt 
Further company coverage:  KZD.V  
 
 ((bangalore.newsroom@thomsonreuters.com;))