Company sells 39,587,500 units along with whole, four-year warrants
By Devika Patel
Knoxville, Tenn., Aug. 29 - Prima Colombia Hardwood Inc. announced it settled a C$3.56 million non-brokered private placement of units. The deal priced for C$8.1 million on Aug. 11.
The company sold 39,587,500 units of one common share and one warrant at C$0.09 per unit.
The warrants are each exercisable at C$0.35 until Sept. 21, 2015. The strike price reflects a 366.67% premium to the Aug. 10 closing share price of C$0.075.
Proceeds will be used to obtain cutting permits and for general working capital purposes.
The Vancouver, B.C.-based company produces wood products.
| Issuer: | Prima Colombia Hardwood Inc.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | C$3,562,875
|
| Units: | 39,587,500
|
| Price: | C$0.09
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Sept. 21, 2015
|
| Warrant strike price: | C$0.35
|
| Agents: | Non-brokered
|
| Pricing date: | Aug. 11
|
| Settlement date: | Aug. 23
|
| Stock symbol: | TSX Venture: PCT
|
| Stock price: | C$0.075 at close Aug. 10
|
| Market capitalization: | C$19.35 million
|
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