Company sells up to 178,571,428 subscription receipts at C$0.14 apiece
By Devika Patel
Knoxville, Tenn., March 10 – FCF Capital Inc. said it has arranged a private placement of subscription receipts to raise up to C$25 million. The deal was announced on Feb. 3.
The company will sell up to 178,571,428 subscription receipts at C$0.14, a 6.67% discount to the March 9 closing share price of C$0.15.
Each subscription receipt converts to a common share.
Of the proceeds, up to C$15 million will be raised on a best-efforts basis by Clarus Securities Inc. The remaining C$10 million will be raised on a non-brokered basis.
Settlement is expected April 8.
Proceeds will be used to acquire interests in private businesses and for working capital requirements and general corporate purposes.
The junior resource company is based in Calgary, Alta.
| Issuer: | FCF Capital Inc.
|
| Issue: | Subscription receipts
|
| Amount: | C$25 million (maximum)
|
| Receipts: | 178,571,428
|
| Price: | C$0.14
|
| Warrants: | No
|
| Agents: | Clarus Securities Inc. (for C$15 million), non-brokered (for C$10 million)
|
| Announcement date: | Feb. 3
|
| Pricing date: | March 10
|
| Settlement date: | April 8
|
| Stock symbol: | TSX Venture: FCF
|
| Stock price: | C$0.15 at close March 9
|
| Market capitalization: | C$23.89 million
|
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