Aisix Solutions Inc. (OTC:AISXF) Stock Takes a Hit After Private Placement

There were a number of companies that came into focus on Wednesday, and one of those was Aisix Solutions Inc. (OTC:AISXF). The company announced that it had been successful in closing a non-brokered private placement.

Aisix Solutions Inc. Announces Closing of Non-Brokered Private Placement for $500,000

Aisix Solutions announced that in the non-brokered private placement it offered an aggregate of 16,666,666 shares of the common stock for the price of $0.03 each and raised total proceeds of $500,000. In the news release, the company also stated that it was going to use the proceeds for general corporate and working capital purposes.

However, it was also stated that the common shares issued in the offering were also going to be subjected to a four-month and one-day hold period. That was in line with Canadian securities law and policies of the TSX Venture Exchange.

Further Information

Mihalis Belantis, the Chief Executive Officer and Director of Aisix Solutions, subscribed for 4,100,000 common shares in the offering, and his purchase of the shares was considered a’related party transaction’. It was noted that prior to the offering, the CEO had control over 10,700,000 common shares of the company and also owned 2,000,000 options to pick up common shares. It would be interesting to see if the Aisix Solutions stock gets any traction this morning or not.