By Laura Lutz
Washington, Feb. 8 - Charter Realty Holdings Ltd. plans to conduct a private placement of shares for up to C$3 million in connection with its acquisition of three commercial real estate properties in Ontario.
The company plans to sell up to 15 million shares at C$0.20 each.
Insiders of the company, including C.A. Bancorp Inc, the company's principal shareholder, are expected to subscribe for up to C$2.5 million.
The placement is expected to close on Feb. 19.
Charter Realty is a capital pool company based in Toronto.
| Issuer: | Charter Realty Holdings Ltd.
|
| Issue: | Shares
|
| Amount: | C$3 million
|
| Shares: | 15 million
|
| Price: | C$0.20
|
| Warrants: | No
|
| Announcement date: | Feb. 8
|
| Settlement date: | Feb. 19
|
| Stock symbol: | TSX Venture: CRH.P
|
| Stock price: | C$0.205 at close Feb. 8
|
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