By Laura Lutz
Washington, Dec. 22 - First Capital Group Ltd. plans to raise A$2 million from a private placement of shares with options with Trojan Equity Ltd.
The company intends to sell 8 million ordinary shares at C$0.25 each. For each share, Trojan will also receive one free option, exercisable at C$0.25 until Nov. 30, 2009.
Settlement is expected on Jan. 2.
Proceeds will be used to retire debt and for working capital.
Based in Sydney, Australia, First Capital finances development projects.
| Issuer: | First Capital Group Ltd.
|
| Issue: | Shares with options
|
| Amount: | C$2 million
|
| Shares: | 8 million
|
| Price: | C$0.25
|
| Options: | 8 million
|
| Option expiration: | Nov. 30, 2009
|
| Option strike price: | C$0.25
|
| Investor: | Trojan Equity Ltd.
|
| Pricing date: | Dec. 22
|
| Settlement date: | Jan. 2
|
| Stock symbol: | Australia: FIC
|
| Stock price: | A$0.24 at close Dec. 22
|
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