Posted On: 01/02/2015 9:03:26 PM
Post# of 96
IFAN Financial, Inc. (IFAN) Enters $1 Million Private Placement Agreement
Today before the opening bell, IFAN Financial announced that it is selling $1 million of its common stock and warrants in a private placement agreement with an accredited investor. Taking place in various stages, the investor has begun to fund the first tranche in the amount of $150,000. The fifth and final tranche in the amount of $200,000 is expected by February 9, 2015.
Pursuant to the agreement, the investor has agreed to purchase approximately 3.7 million restricted common shares at a price of $0.27 per share, and an equal amount of warrants that are exercisable until the end of this year, at a price of $1 per warrant share. Together, the units provide for possible total gross proceeds of approximately $4.7 million.
According to the press release issued this morning, the company plans to use the proceeds of this private placement to complete development of the IFAN technology platforms and to begin the commercialization process.
For more information on IFAN Financial and its mobile payment technologies, visit www.ifanfinancial.com
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
Today before the opening bell, IFAN Financial announced that it is selling $1 million of its common stock and warrants in a private placement agreement with an accredited investor. Taking place in various stages, the investor has begun to fund the first tranche in the amount of $150,000. The fifth and final tranche in the amount of $200,000 is expected by February 9, 2015.
Pursuant to the agreement, the investor has agreed to purchase approximately 3.7 million restricted common shares at a price of $0.27 per share, and an equal amount of warrants that are exercisable until the end of this year, at a price of $1 per warrant share. Together, the units provide for possible total gross proceeds of approximately $4.7 million.
According to the press release issued this morning, the company plans to use the proceeds of this private placement to complete development of the IFAN technology platforms and to begin the commercialization process.
For more information on IFAN Financial and its mobile payment technologies, visit www.ifanfinancial.com
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
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