By Devika Patel
Knoxville, Tenn., Feb. 4 - GT Canada Capital Corp. said it raised approximately C$2.72 million in a private placement of subscription receipts.
The company sold about 10.86 million receipts at C$0.25 apiece. The receipts will convert into common stock upon completion of the company's planned qualifying transaction. If the qualifying transaction does not complete by April 30, the securities will be redeemed at the purchase price.
M Partners Inc. was the agent.
The Toronto-based company is seeking business opportunities.
| Issuer: | GT Canada Capital Corp.
|
| Issue: | Subscription receipts
|
| Amount: | C$2,715,000 (approximate)
|
| Receipts: | 10.86 million (approximate)
|
| Price: | C$0.25
|
| Warrants: | No
|
| Agent: | M Partners Inc.
|
| Pricing date: | Feb. 4
|
| Stock symbol: | Toronto: MOB.P
|
| Stock price: | C$0.25 at close Feb. 3
|
| Market capitalization: | C$2.19 million
|
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