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SATO Technologies Raises CA$1.5 Million in a Private Placement of Share Units

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SATO Technologies (SATO.V) closed a non-brokered private placement of share units for proceeds CA$1.5 million, it said on Tuesday.

The company placed 15.0-million units priced at CA$0.10 apiece and made up of a share and one-half of one two-year warrant to buy a share for CA$0.20.

Proceeds will be used for the acquisition of infrastructure and related assets, the advancement of its strategic initiatives, the satisfaction of existing obligations of the company and its units, and for general working capital and corporate needs, it said.

Shares of the company were last seen unchanged at CA$0.095 on the TSX Venture Exchange.

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