By Sheri Kasprzak
Atlanta, May 5 - Mavrix Fund Management Inc. said it plans to raise up to C$10 million in a private placement of convertible debentures.
The debentures will mature June 30, 2010, bear interest at 8% annually and be convertible into common shares at C$3.50 each.
McFarlane Gordon Inc. is the placement agent.
Based in Toronto, Mavrix is an asset-management company. It plans to use the proceeds to repay debt and for general corporate purposes.
| Issuer: | Mavrix Fund Management Inc.
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| Issue: | Convertible debentures
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| Amount: | C$10 million
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| Maturity: | June 30, 2010
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| Coupon: | 8%
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| Price: | Par
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| Yield: | 8%
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| Conversion price: | C$3.50
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| Warrants: | No
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| Placement agent: | McFarlane Gordon Inc.
|
| Pricing date: | May 5
|
| Stock price: | C$2.57 at close May 5
|
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