AirIQ Inc. announced that it has received CAD 0.49 million in funding from 2204671 Ontario Inc, Mosaic Capital Partners, Kilimanjaro Capital, LLC, and other investors.
On December 17, 2013, AirIQ Inc. closed the transaction. The company issued a warrant to purchase 700,000 shares till December 17, 2018. The transaction included participation from 17 placees. As a part of the transaction, existing investors Mosaic Capital Partners acquired 1,000,000 shares and 2204671 Ontario Inc acquired 2,810,000 shares in the transaction. As part of the transaction, Vernon Lobo from Kilimanjaro Capital Inc. subscribed for 169,000 shares, Michael Robb from MR Accounting & Bookkeeping Inc. subscribed for 306,000 shares, and Karen Felstead subscribed for 210,000 shares. Upon completion of the transaction, 2204671 Ontario Inc owns a 19.8% stake and Mosaic Capital Partners holds a 19.99% stake in the company.