Company will offer 4,444,444 of its common shares at C$0.45 per share
By Devika Patel
Knoxville, Tenn., Oct. 31 - Nordex Explosives Ltd. said it plans a C$2 million non-brokered private placement of stock. The deal priced Tuesday.
The company will sell 4,444,444 common shares at C$0.45 each. The price per share reflects a 16.67% discount to the Oct. 29 closing share price of C$0.54.
Proceeds will be used to invest in the company's distribution system and for additional working capital.
The Mississauga, Ont., company makes and distributes explosives for the mining, quarry and construction industries.
| Issuer: | Nordex Explosives Ltd.
|
| Issue: | Common shares
|
| Amount: | C$2 million
|
| Shares: | 4,444,444
|
| Price: | C$0.45
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 30
|
| Stock symbol: | TSX Venture: NXX
|
| Stock price: | C$0.54 at close Oct. 29
|
| Market capitalization: | C$5.89 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.
