By Laura Lutz
Des Moines, April 12 - Brownstone Ventures Inc. arranged a private placement of units for up to C$10 million.
The company plans to sell up to 4 million units of one share and one half-share warrant at C$2.50 per unit. Each whole warrant will be exercisable at C$3.00 for two years.
PowerOne Capital Markets Ltd. will act as agent.
Proceeds will be used for general corporate purposes.
Brownstone is an energy-focused investment company based in Toronto.
| Issuer: | Brownstone Ventures Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$10 million
|
| Units: | 4 million
|
| Price: | C$2.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$3.00
|
| Agent: | PowerOne Capital Markets Ltd.
|
| Pricing date: | April 12
|
| Stock symbol: | TSX Venture: BWN
|
| Stock price: | C$2.70 at close April 12
|
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