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DEFSEC Technologies Down 31% as It Plans a C$2.5 Million Registered Direct Offering

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DEFSEC Technologies (DFSC.V, DFSC) shares fell 31% on Thursday after it entered into definitive agreements to raise C$2.5 million in a registered direct offering of 673,006 shares priced at C$3.74 each.

The company also said will place up to 673,006 five-year warrants to buy a share for C$4.39 in a concurrent private placement.

The company intends to use proceeds for working capital and general corporate needs.

The company's shares were last seen down C$1.37 to C$3.02 on the TSX Venture Exchange.

Price: $3.02, Change: $-1.37, Percent Change: -31.21%

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