By Sheri Kasprzak
New York, Aug. 25 - ADF Group Inc. said it will close a private placement of stock with two investment funds for C$3,225,001.
The investors agreed to buy 2,480,770 shares at C$1.30 each.
The deal is scheduled to close by Aug. 31.
Proceeds will be used for working capital and general corporate purposes.
When the offering closes, the company will have 16,500,583 outstanding common shares.
ADF, based in Terrebonne, Quebec, ADF designs and installs steel superstructures.
| Issuer: | ADF Group Inc.
|
| Issue: | Stock
|
| Amount: | C$3,225,001
|
| Shares: | 2,480,770
|
| Price: | C$1.30
|
| Warrants: | No
|
| Announcement date: | Aug. 25
|
| Settlement date: | Aug. 31
|
| Stock symbol: | Toronto: DRX
|
| Stock price: | C$1.22 at close Aug. 24
|
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