Company sells secured convertible debenture to investor Alex Blyumkin
By Devika Patel
Knoxville, Tenn., June 25 – MCW Energy Group Ltd. said it arranged a $2 million private placement of a secured convertible debenture with Alex Blyumkin. It has already raised $1.14 million.
The 10% note is initially convertible into common shares at C$1.00 per share, which is identical to the June 24 closing share price. The note matures on June 25, 2017.
Based in Toronto, MCW is a distributor of gasoline and diesel fuels to service stations in Southern California.
| Issuer: | MCW Energy Group Ltd.
|
| Issue: | Secured convertible debenture
|
| Amount: | $2 million
|
| Maturity: | June 25, 2017
|
| Coupon: | 10%
|
| Conversion price: | $1.00
|
| Warrants: | No
|
| Investor: | Alex Blyumkin
|
| Settlement date: | June 25 (for $1,139,000)
|
| Stock symbol: | TSX Venture: MCW
|
| Stock price: | C$1.00 at close on June 24
|
| Market capitalization: | C$43.14 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
