ProntoForms raises $1M through private placement

Ottawa-based ProntoForms Corp. (TSXV: PFM) has raised $1 million through a non-brokered private placement, the company announced on Wednesday.

The placement saw the company, which markets mobile data collection software for business, sell 3,333,333 units at a price of 30 cents each.

Each unit consisted of one common share and half a purchase warrant. Each complete purchase warrant can be used to buy once common share at a price of 45 cents within the next 18 months.

As of Sept. 30, 2013, the most recent period the most recent period for which ProntoForms quarterly filings are available, the company had over 67 million outstanding shares.

ProntoForms shares were trading at 35 cents on Thursday afternoon.