By Sheri Kasprzak
Atlanta, June 30 - Imaflex Inc. said it plans to raise C$6,032,500 in a private placement.
The deal includes 6.35 million class A shares at C$0.95 each.
Acumen Capital Finance Partners Ltd. is the placement agent in the offering, which is expected to close July 19.
Before closing, insiders of the company will sell up to 2 million class A shares in an off-the-floor trade at a price of at least C$0.95 each.
The proceeds will be used for working capital and for general corporate purposes, including equipment purchases related to the company's expansion to the United States.
Imaflex, based in Montreal, manufactures polyethylene films used for packaging.
| Issuer: | Imaflex Inc.
|
| Issue: | Class A shares
|
| Amount: | C$6,032,500
|
| Shares: | 6.35 million
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| Price: | C$0.95
|
| Warrants: | No
|
| Placement agent: | Acumen Capital Finance Partners Ltd.
|
| Pricing date: | June 30
|
| Settlement date: | July 19
|
| Stock price: | C$1.15 at close June 29
|
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