Company sells 714,286 common shares at $8.40 per share in offering
By Devika Patel
Knoxville, Tenn., Aug. 11 – Imperial Metals Corp. said it settled a $6 million non-brokered private placement of stock. The deal priced on July 20.
The company sold 714,286 common shares at $8.40 per share. The price per share is a discount to C$9.26, the July 17 closing share price.
N. Murray Edwards bought 416,673 shares for $3.5 million and the Fairholme Partnership, LP bought 297,613 shares for $2.5 million.
The company also plans to raise C$44 million in a rights offering and C$30 million in a convertible debenture private placement, which are expected to settle on Aug. 24.
Imperial is an exploration, mine development and operating company based in Vancouver, B.C.
| Issuer: | Imperial Metals Corp.
|
| Issue: | Common shares
|
| Amount: | $6 million
|
| Shares: | 714,286
|
| Price: | $8.40
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investors: | N. Murray Edwards (for $3.5 million), the Fairholme Partnership, LP (for $2.5 million)
|
| Pricing date: | July 20
|
| Settlement date: | Aug. 11
|
| Stock symbol: | Toronto: III
|
| Stock price: | C$9.26 at close July 17
|
| Market capitalization: | C$607.98 million
|
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