By Devika Patel
Knoxville, Tenn., Aug. 24 - Green Park Capital Corp. said it plans a private placement of units for between C$5 million and C$7 million. Union Securities Ltd. is the agent. There is a C$2 million greenshoe.
The company will sell between 10 million and 14 million units of one common share and one half-share warrant at C$0.50 per unit on a best-efforts basis.
Each full warrant is exercisable at C$0.75 for two years. The strike price represents a 650% premium to the closing share price of C$0.10 on Aug. 23.
The financing is being conducted in connection with the company's planned qualifying transaction with Josephine Mining Corp.
Green Park is a Vancouver, B.C., capital pool company.
| Issuer: | Green Park Capital Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$5 million (minimum), C$7 million (maximum)
|
| Greenshoe: | C$2 million
|
| Units: | 10 million (minimum), 14 million (maximum)
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant strike price: | C$0.75
|
| Warrant expiration: | Two years
|
| Agent: | Union Securities Ltd.
|
| Pricing date: | Aug. 24
|
| Stock symbol: | TSX Venture: GRP.P
|
| Stock price: | C$0.10 at close Aug. 24
|
| Market capitalization: | C$550,000
|
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