Offering sells units of four shares, two warrants to AIM Investments
By Devika Patel
Knoxville, Tenn., Aug. 22 - Farm Lands of Guinea settled a $1 million private placement of stock with AIM Investments plc on Aug. 17, according to an 8-K filed Monday with the Securities and Exchange Commission. Hunter Wise Securities, LLC was the agent.
The company sold 50,000 units of four common shares and two warrants at $20.00 per unit.
The series A warrants are each exercisable at $7.50, and the series B warrants are each exercisable at $10.00. The strike prices are 36.61% and 82.15% premiums to the Aug. 16 closing share price of $5.49.
Farm Lands of Guinea also bought 24.5 million of AIM Investments' ordinary shares at 1.25p per share and received 24.5 million warrants, which are each exercisable at 1.5p.
The agricultural company is based in Europort, Gibraltar.
| Issuer: | Farm Lands of Guinea
|
| Issue: | Units of four common shares and two warrants
|
| Amount: | $1 million
|
| Units: | 50,000
|
| Price: | $20.00
|
| Warrants: | Two warrants per unit
|
| Warrant strike price: | $7.50 (series A), $10.00 (series B)
|
| Agent: | Hunter Wise Securities, LLC
|
| Investor: | AIM Investments plc
|
| Settlement date: | Aug. 17
|
| Stock symbol: | OTCBB: FLGI
|
| Stock price: | $5.49 at close Aug. 17
|
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