Proceeds earmarked to help company complete its qualifying transaction
By Devika Patel
Knoxville, Tenn., March 8 - Druk Capital Partners Inc. said it settled the initial tranche of a non-brokered private placement of stock that priced Feb. 10. The company raised C$757,200 in this portion of the C$1.62 million offering.
The company is selling 2.7 million common shares at C$0.60 each, which is a 14.29% discount to the Feb. 9 closing share price of C$0.70. It sold 1,262,000 shares in the first closing.
Proceeds will be used to identify and evaluate assets or businesses to acquire with a view to completing a qualifying transaction and to finance the expenses of the transaction.
Druk is a Vancouver, B.C.-based capital pool company.
| Issuer: | Druk Capital Partners Inc.
|
| Issue: | Common shares
|
| Amount: | C$1.62 million
|
| Shares: | 2.7 million
|
| Price: | C$0.60
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 10
|
| Settlement date: | March 8 (for C$757,200)
|
| Stock symbol: | TSX Venture: DRU.P
|
| Stock price: | C$0.70 at close Feb. 10
|
| Market capitalization: | C$3.3 million
|
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