Wondr Gaming Corp (CSE: WDR) last night announced that it has closed the first tranche of its ongoing financing. The financing was originally announced in early December, with the firm looking to raise gross proceeds of up to $10.0 million.
Under the first tranche of the financing, the company sold a total of 35.4 million units of the company at a price of $0.20 per unit. Each unit contains one common share and half of a common share purchase warrant. Warrants are valid for a period of two years from the date of issuance and contain an exercise price of $0.30 per share.
The tranche raised gross proceeds of $7.1 million, of which an insider contributed $2.0 million, acquiring 10.0 million units.
Proceeds from the offering are to be used for working capital, potential strategic acquisitions, general and administrative costs.
Wondr Gaming last traded at $0.165 on the CSE.
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