Telehop completes private placement
26 Juli 2012 - 10:01AM
PR Newswire (Canada)
TORONTO, July 26, 2012 /CNW/ - Telehop Communications Inc.
("Telehop") announces today the completion of a non-brokered
private placement for the gross proceeds of CDN $750,000 through
the issuance of units (each, a "Unit" and collectively, the
"Units") at a price of $0.10 per Unit, where each Unit consists of
one common share and one-half of one common share purchase warrant
("Warrant"). Each Warrant entitles the holder to purchase one
common share over a two-year period (subject to acceleration in the
event that the closing price of the company's common shares on the
TSX Venture Exchange, for a period of 10 consecutive trading days,
exceeds $0.25 per common share) at a price of $0.15 per common
share. All securities issued in connection with the offering will
be subject to a four-month hold period in accordance with
applicable Canadian securities laws. The offering is subject to the
approval of the TSX Venture Exchange and required regulatory
approvals. About Telehop Telehop Communications Inc. , was founded
in 1993 and is headquartered in Toronto, Ontario, and has grown
into one of the largest alternative telecommunications providers to
both residential and business customers. Telehop is an Equal Access
Long Distance Provider, allowing it to offer its customers full
service long distance calling globally at significantly lower
rates. The Canadian Radio-television and Telecommunications
Commission ("CRTC") has licensed Telehop as a Class "A"
telecommunications carrier. Neither the TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release. Telehop
Communications Inc. CONTACT: Mr. Rajiv Jagota, President and CEO:
Tel: (416) 494 4490;email rjagota@telehop.com
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