By Devika Patel
Knoxville, Tenn., July 16 - Liquidation World Inc. said it will raise C$10 million in a private placement of stock.
The company will sell 11,765,000 common shares at C$0.85 apiece on a best-efforts basis.
Cormark Securities Inc. is the lead agent of a syndicate that includes BayFront Capital Partners Ltd. and Canaccord Genuity Corp.
Settlement is expected Aug. 5.
Proceeds will be used for general corporate and working capital purposes.
Calgary, Alta.-based Liquidation World is a retailer.
| Issuer: | Liquidation World Inc.
|
| Issue: | Common stock
|
| Amount: | C$10 million
|
| Shares: | 11,765,000
|
| Price: | C$0.85
|
| Warrants: | No
|
| Agents: | Cormark Securities Inc. (lead agent), BayFront Capital Partners Ltd. and Canaccord Genuity Corp.
|
| Pricing date: | July 16
|
| Settlement date: | Aug. 5
|
| Stock symbol: | Toronto: LQW
|
| Stock price: | C$1.06 at close July 15
|
| Market capitalization: | C$18.96 million
|
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