By Sheri Kasprzak
New York, June 29 - Aero Mechanical Services Ltd. negotiated a C$2.5 million private placement.
The company plans to sell 5,555,556 units at C$0.45 each.
The units consist of one class A share and one half-share warrant. The full warrants allow for the purchase of another share at C$0.60 each for the first year and at C$0.75 each for the second year.
The proceeds will be used for working capital.
Aero Mechanical, based in Calgary, Alta., provides technologies and services to airlines, manufacturers and maintenance organizations.
Issuer: | Aero Mechanical Services Ltd.
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Issue: | Units of one share and one half-share warrant
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Amount: | C$2.5 million
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Units: | 5,555,556
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Price: | C$0.45
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.60 for the first year; C$0.75 for the second year
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Pricing date: | June 29
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Stock symbol: | TSX Venture: AMA
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Stock price: | C$0.44 at close June 29
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