By Sheri Kasprzak
Atlanta, Nov. 19 - Cervus Financial Group Inc. said Friday it sold C$10 million in a private placement.
The deal consists of 10 million shares at C$1 per share.
The offering will have two closing, the first of which is scheduled for Nov. 26. The second closing is scheduled to occur Dec. 15.
Cervus is based in Toronto and is a financial services company focused on mortgages. The company plans to use the proceeds from the financing for balance-sheet enhancement and for general working capital.
| Issuer: | Cervus Financial Group Inc.
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| Issue: | Stock
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| Amount: | C$10 million
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| Shares: | 10 million
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| Price: | C$1
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| Warrants: | No
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| Announcement date: | Nov. 19
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| Settlement date: | Nov. 18
|
| Stock price: | C$1.50 at close Nov. 18
|
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