By Sheri Kasprzak
Atlanta, April 19 - Amusements International Ltd. said it will head to the private placement market with an offering of up to C$4 million.
The company plans to sell up to 80 million special warrants at C$0.05 each.
The special warrants provide for one class A common share just before the company completes its amalgamation with Blue Grouse Seismic Solutions Ltd. Once the amalgamation is completed, every 15 shares of Amusements will be exchanged for one share of the company formed by the amalgamation.
The proceeds will be held in escrow until the amalgamation is completed. If the amalgamation is not completed by July 15, the proceeds will be returned to the investors plus interest.
Placement agent Leede Financial Markets Inc. has an over-allotment option for up to 20 million additional special warrants.
The private placement is expected to close May 12.
Based in Calgary, Alta., Amusements is a holding company for entertainment, resort and leisure subsidiaries. The proceeds from the offering will be used by the amalgamated company to buy seismic equipment and seismic databases.
| Issuer: | Amusements International Ltd.
|
| Issue: | Special warrants exchangeable for one share
|
| Amount: | C$4 million (maximum)
|
| Special warrants: | 80 million (maximum)
|
| Greenshoe: | For up to 20 million warrants
|
| Price: | C$0.05
|
| Warrants: | No
|
| Placement agent: | Leede Financial Markets Inc.
|
| Pricing date: | April 18
|
| Settlement date: | May 12
|
| Stock price: | C$0.03 at close April 18
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
