By Sheri Kasprzak
New York, March 6 - Crossfire Holdings Inc. said it plans to raise up to C$10 million in a private placement.
The offering includes 10 million shares.
Placement agent Jennings Capital Inc. has a greenshoe for up to 5 million additional shares.
The placement is scheduled to close April 7.
Proceeds will be used the company's acquisitions of Waylan Maintenance Ltd., Pro-V Industries Inc. and Dynacorp Fabricators Inc. The rest will be used for general corporate purposes.
Calgary, Alta.-based Crossfire acquires and develops oil and natural gas service and technology companies.
| Issuer: | Crossfire Holdings Inc.
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| Issue: | Stock
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| Amount: | C$10 million (maximum)
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| Shares: | 10 million (maximum)
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| Greenshoe: | For 5 million shares
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| Price: | C$1.00
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| Warrants: | No
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| Placement agent: | Jennings Capital Inc.
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| Pricing date: | March 6
|
| Settlement date: | April 7
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| Stock symbol: | TSX Venture: CFE
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| Stock price: | C$0.305 at close March 3
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