November 10, 2016 / 1:07 PM / in a year

BRIEF-Kaizen Discovery announces rights offering

Nov 10 (Reuters) - Kaizen Discovery Inc

* Rights offering to raise gross proceeds of approximately C$7.3 million

* Kaizen says in connection with rights offering, has entered into standby commitment agreement with its largest shareholder, HPX Techco Inc

* Kaizen Discovery inc says aggregate subscription amount for hpx will be approximately C$4.9 million

* Kaizen Discovery Inc says under standby commitment agreement, Kaizen will issue 2.1 million non-transferable warrants to HPX.

* Kaizen Discovery Inc says each warrant will entitle hpx to acquire one common earnings per share of co at exercise price C$0.155 at any time on or before Jan 11, 2022

* Kaizen discovery announces rights offering Source text for Eikon: Further company coverage:

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