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GuestLogix launches common share private placement

Canadian airline retail and payment technology solutions firm GuestLogix Inc (TSX: GXI) said that it has entered into a bought deal agreement with National Bank Financial Inc to issue by way of a private placement 3.889m common shares of GuestLogix from treasury at a price of CND 0.90 per share for gross proceeds of CND 3.5001m.

The company has granted the Underwriter an over-allotment option to purchase up to an additional 583,300 shares at the same price, exercisable in whole or in part for a period of 30 days following closing of the offering, to cover over-allotments.

If the over-allotment option is exercised in full, the total gross proceeds to GuestLogix from the sale of shares will be CND 4,025,070.

The offering is expected to close on or about September 11, 2013 and is subject to certain closing conditions, including the receipt of all necessary regulatory approvals, including approval of the Toronto Stock Exchange.

GuestLogix said it intends to use the net proceeds from the offering for general corporate purposes and working capital.
The offering will be sold on a private placement basis pursuant to “accredited investor” exemptions under National Instrument 45-106 and certain other available and agreed upon exemptions.

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