Deal consists of 12% debentures which convert to shares with warrants
By Devika Patel
Knoxville, Tenn., Nov. 19 - Lexaria Corp. said it will sell 12% convertible debentures in a private placement.
The C$1.5 million of debentures are convertible into units at C$0.35 per unit of one common share and one warrant. The warrants are each exercisable at C$0.40.
Lexaria is a Vancouver, B.C.-based oil and gas company.
| Issuer: | Lexaria Corp.
|
| Issue: | Convertible debentures
|
| Amount: | C$1.5 million
|
| Coupon: | 12%
|
| Price: | Par
|
| Yield: | 12%
|
| Conversion price: | C$0.35
|
| Put: | After one year
|
| Warrants: | One per unit upon conversion
|
| Warrant strike price: | C$0.40
|
| Pricing date: | Nov. 19
|
| Stock symbol: | OTCBB: LXRP
|
| Stock price: | $0.30 at close Nov. 19
|
| Market capitalization: | $3.86 million
|
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