Debentures sold by Axiom Capital Management, Boenning and Scattergood
By Devika Patel
Knoxville, Tenn., March 7 - Aqua-Pure Ventures Inc. said it completed a private placement of $2.15 million of secured convertible debentures on Wednesday. The deal priced for $10 million on Dec. 3.
The 8% debentures are convertible into common stock at $0.30 per share and due in three years.
The investors also received 1.33 warrants for each $1.00 invested, for a total of 2,866,662 warrants. The warrants are each exercisable at $0.40 until March 4, 2016.
Axiom Capital Management Inc. and Boenning and Scattergood, Inc. were the agents.
Proceeds will be used for general working capital purposes.
Based in Calgary, Alta., Aqua-Pure provides industrial and municipal wastewater services.
| Issuer: | Aqua-Pure Ventures Inc.
|
| Issue: | Secured convertible debentures
|
| Amount: | $2.15 million
|
| Maturity: | Three years
|
| Coupon: | 8%
|
| Conversion price: | $0.30
|
| Warrants: | 1.33 warrants for each $1.00 invested (2,866,662 warrants)
|
| Warrant expiration: | March 4, 2016
|
| Warrant strike price: | $0.40
|
| Agents: | Axiom Capital Management Inc. and Boenning and Scattergood, Inc.
|
| Pricing date: | Dec. 3
|
| Settlement date: | March 6
|
| Stock symbol: | TSX Venture: AQE
|
| Stock price: | C$0.16 at close Nov. 30
|
| Market capitalization: | C$12.81 million
|
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