Deal's proceeds to expand Pucheng tomato paste processing operations
By Toni Weeks
San Luis Obispo, Calif., Dec. 23 - GreenStar Agricultural Corp. said it will raise up to$6 million in a non-brokered private placement of units.
The company will sell up to 7,058,823 units of one common share and one warrant at C$0.85 per unit.
Each two-year warrant is exercisable at C$1.15 per share, a 35.29% premium to the closing share price of C$0.85 on Dec. 20.
Settlement of the first tranche is expected Jan. 6.
Proceeds will be used for expansion of the Pucheng tomato paste processing operations and for general corporate purposes.
The Toronto-based company cultivates, harvests and processes agricultural products such as fruits and vegetables.
| Issuer: | GreenStar Agricultural Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$6 million
|
| Units: | 7,058,823
|
| Price: | C$0.85
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.15
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 23
|
| Settlement date: | Jan. 6
|
| Stock symbol: | TSX: GRE
|
| Stock price: | C$0.85 at close Dec. 20
|
| Market capitalization: | C$12.96 million
|
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