By Devika Patel
Knoxville, Tenn., July 27 - Mercator Transport Group Corp. said it settled a C$1.6 million private placement of stock via agent Laurentian Bank Securities. The deal priced July 6.
The company also said it settled its acquisition of SAS Trans Orient Services.
The company sold 5,333,333 common shares at C$0.30 each.
Proceeds were used in connection with the acquisition and will also be used to expand operations.
The issuer is a Montreal-based transportation company.
| Issuer: | Mercator Transport Group Corp.
|
| Issue: | Common shares
|
| Amount: | C$1.6 million
|
| Shares: | 5,333,333
|
| Price: | C$0.30
|
| Warrants: | No
|
| Agent: | Laurentian Bank Securities
|
| Pricing date: | July 6
|
| Settlement date: | July 27
|
| Stock symbol: | TSX Venture: GMT
|
| Stock price: | C$0.25 at close July 6
|
| Market capitalization: | C$7.51 million
|
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