By Sheri Kasprzak
New York, April 12 - Russell Breweries Inc. priced a C$1.5 million private placement of 5 million units.
The units, priced at C$0.30 apiece, include one share and one warrant. The warrants are exercisable at C$0.50 each for two years.
The expiry will be accelerated to 30 days if the weighted average trading price of the company's stock exceeds C$0.75 for 20 consecutive trading days.
Bolder Investments Partners, Ltd. is the placement agent.
Proceeds will be used for capital equipment, acquisitions and working capital.
Russell, based in Vancouver, B.C., is a beer brewery.
| Issuer: | Russell Breweries Inc.
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| Issue: | Units of one share and one warrant
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| Amount: | C$1.5 million
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| Units: | 5 million
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| Price: | C$0.30
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.50
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| Placement agent: | Bolder Investment Partners, Ltd.
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| Pricing date: | April 12
|
| Stock symbol; | CNQ: BEER
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| Stock price: | C$0.33 at close April 12
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