Marble Financial recently raised $116,000 in a private investment round
Marble Financial Inc. has completed a private funding round by selling 1.67 million units at a price of $0.07 per unit, for a total of $116,900. Each unit consists of a common share and half of a warrant, which can be used to buy one additional common share at a price of $0.11 within two years. As part of this round, the company paid a total of 56,000 shares as finder fees. The securities sold are subject to a four-month holding period. The company’s insiders bought 950,000 units, which represents about 57% of the total units issued, and this is considered a related party transaction under Canadian securities regulations. However, the company is exempt from certain requirements because the transaction does not exceed 25% of the company’s market capitalization and no securities of the company are listed on a stock exchange.
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