By Angela McDaniels
Tacoma, Wash., Oct. 8 - Eacom Timber Corp. plans to sell 10 million units for C$3 million in a non-brokered private placement, according to a company news release.
Each unit will consist of one common share and one three-year warrant with an exercise price of C$0.60. The per-unit price is C$0.30.
Peninsula Merchant Syndications Corp. is the lead investor for the placement.
Rick Doman, president and chief executive officer of Eacom, said in the release that the placement puts the company in the position to exercise its option to acquire the Big River saw mill in Saskatchewan from Domtar Corp. for C$3 million.
The company is based in Richmond, B.C.
| Issuer: | Eacom Timber Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$3 million
|
| Units: | 10 million
|
| Price: | C$0.30
|
| Warrants: | One per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.60
|
| Agent: | Non-brokered
|
| Investor: | Peninsula Merchant Syndications Corp. (lead)
|
| Pricing date: | Oct. 7
|
| Stock symbol: | NEX: ETR
|
| Stock price: | C$0.50 at close Oct. 7
|
© 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.
