Non-brokered deal to fund general corporate purposes, working capital
By Devika Patel
Knoxville, Tenn., Sept. 12 - Arrowhead Water Products Ltd. said it will conduct a C$1.35 million non-brokered private placement of stock.
The company will sell 5 million common shares at C$0.27 per share. The price per share represents a 32.5% discount to the Sept. 11 closing share price of C$0.40.
Settlement is expected on Sept. 30.
Arrowhead will pay a 6% finder's fee to PI Financial Corp.
Proceeds will be used for general corporate purposes, working capital and transacting new business acquisitions in the energy efficiency field.
The water bottling and distribution company is based in Calgary, Alta.
| Issuer: | Arrowhead Water Products Ltd.
|
| Issue: | Common shares
|
| Amount: | C$1.35 million
|
| Shares: | 5 million
|
| Price: | C$0.27
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 12
|
| Settlement date: | Sept. 30
|
| Stock symbol: | TSX Venture: AWA
|
| Stock price: | C$0.40 at close Sept. 11
|
| Market capitalization: | C$4.78 million
|
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