By Laura Lutz
Des Moines, July 30 - Russell Breweries Inc. closed its private placement of units for C$3,176,500, down from the C$3.6 million size announced at pricing on June 12.
The company sold 5,294,166 units of one share and one non-transferable warrant at C$0.60 per unit. Each warrant will be exercisable at C$0.75 for one year.
Expiry of the warrants may be accelerated to 30 days if, at any time more than four months after closing, the weighted average price of the company's shares is at least C$1.00 for 15 consecutive trading days.
The syndicate of agents included Bolder Investment Partners, Ltd., Canaccord Capital Corp. and MGI Securities Inc.
Proceeds will be used for the company's proposed acquisition of Fort Garry Brewing Co., for capital equipment and for working capital.
Russell is a brewing company based in Vancouver, B.C.
| Issuer: | Russell Breweries Inc.
|
| Issue: | Units of one share and one non-transferable warrant
|
| Amount: | C$3,176,500
|
| Units: | 5,294,166
|
| Price: | C$0.60
|
| Warrants: | One per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.75
|
| Agent: | Bolder Investment Partners, Ltd.
|
| Pricing date: | June 12
|
| Settlement date: | July 30
|
| Stock symbol: | TSX Venture: RB
|
| Stock price: | C$0.64 at close June 11
|
| Stock price: | C$0.60 at close July 27
|
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