By Devika Patel
Knoxville, Tenn., March 22 - Brownstone Ventures Inc. said it increased a non-brokered private placement of units to C$11 million. The deal priced for C$5.5 million on March 5.
The company will now sell 20 million units of one common share and one half-share warrant at C$0.55 apiece on a best-efforts basis. The whole warrants are exercisable at C$0.75 for two years.
Brownstone is an energy-focused investment company based in Toronto.
| Issuer: | Brownstone Ventures Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$11 million
|
| Units: | 20 million
|
| Price: | C$0.55
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75
|
| Agent: | Non-brokered
|
| Pricing date: | March 5
|
| Upsized: | March 22
|
| Stock symbol: | TSX Venture: BWN
|
| Stock price: | C$0.56 at close March 4
|
| Market capitalization: | C$38.1 million
|
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