Deal funds subordinate debt repayment and general corporate purposes
By Devika Patel
Knoxville, Tenn., Aug. 18 - Lonestar West Inc. said it raised C$1.29 million in a non-brokered private placement of stock.
The company sold 2,154,900 common shares at C$0.60 per share, a 25% discount to the Aug. 17 closing share price of C$0.80.
Proceeds will be used for subordinate debt repayment and general corporate purposes.
Lonestar is a Toronto-based provider of hydro-vacuum services.
| Issuer: | Lonestar West Inc.
|
| Issue: | Common stock
|
| Amount: | C$1,292,940
|
| Shares: | 2,154,900
|
| Price: | C$0.60
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Settlement date: | Aug. 18
|
| Stock symbol: | TSX Venture: LSI
|
| Stock price: | C$0.80 at close Aug. 18
|
| Market capitalization: | C$10.34 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
