Company aims to fund working capital and restructuring of convertibles
By Devika Patel
Knoxville, Tenn., Sept. 16 - Mountain China Resorts (Holding) Ltd. said it arranged a C$19.03 million non-brokered private placement of stock.
The company will sell 105.7 million common shares at C$0.18 apiece. The price per share is identical to the Sept. 15 closing share price.
Proceeds will be used for the company's working capital and the restructuring of its convertible debentures.
Mountain China develops ski resorts in China and is based in Beijing.
| Issuer: | Mountain China Resorts (Holding) Ltd.
|
| Issue: | Common stock
|
| Amount: | C$19,026,000
|
| Shares: | 105.7 million
|
| Price: | C$0.18
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 16
|
| Stock symbol: | TSX Venture: MCG
|
| Stock price: | C$0.18 at close Sept. 15
|
| Market capitalization: | C$40.63 million
|
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