By Devika Patel
Knoxville, Tenn., March 19 - Liquidation World Inc. completed a C$2 million private placement of units. Talon Mezzanine Partners LLC and Oakwest Corp. Ltd. are the investors.
The company sold 2 units at C$1 million per unit. Each investor bought one of the units. Each unit consists of C$1 million in secured non-convertible subordinated notes and five-year warrants for 791,614 common shares. Each warrant will be exercisable at C$0.66. The notes have a three-year term.
Calgary, Alta.-based Liquidation World is a retailer.
| Issuer: | Liquidation World Inc.
|
| Issue: | Units of C$1 million in secured non-convertible subordinated notes and warrants for 791,614 common shares.
|
| Amount: | C$2 million
|
| Units: | 2
|
| Price: | C$1 million
|
| Maturity: | Three years
|
| Warrants: | Warrants for 791,614 shares per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.66
|
| Investors: | Talon Mezzanine Partners LLC and Oakwest Corp. Ltd.
|
| Settlement date: | March 19
|
| Stock symbol: | Toronto: LQW
|
| Stock price: | C$0.77 at close March 18
|
| Market capitalization: | C$12 million
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