Scotiabank and National Bank Financial sell common shares at C$0.23
By Toni Weeks
San Luis Obispo, Calif., March 18 - Capital BLF Inc. said it raised C$23.5 million in a private placement of stock. The deal was conducted by co-lead agents Scotiabank and National Bank Financial Inc.
The company sold 102,174,000 common shares at C$0.23 each on a best-efforts basis. The price per share is an 8% discount to the C$0.25 closing price on March 1.
President and chief executive officer Mathieu Duguay invested C$4.7 million. Chairman of the board Claude Blanchet invested C$500,000. Board member Marc Marois invested C$81,650.
Proceeds were used to fund the acquisition of three properties in Quebec City and Montreal.
The company also announced it arranged a C$10 million two-year revolving acquisition facility with First National Financial LP.
The Montreal company owns income-producing multi-unit residential properties.
| Issuer: | Capital BLF Inc.
|
| Issue: | Common shares
|
| Amount: | C$23,500,020
|
| Shares: | 102,174,000
|
| Price: | C$0.23
|
| Warrants: | No
|
| Agents: | Scotiabank and National Bank Financial Inc. (co-leads)
|
| Investors: | Mathieu Duguay (for C$4.7 million), Claude Blanchet (for C$500,000), Marc Marois (for C$81,650)
|
| Pricing date: | March 4
|
| Settlement date: | March 18
|
| Stock symbol: | TSX Venture: BLF
|
| Stock price: | C$0.25 at close March 1
|
| Market capitalization: | C$7.47 million
|
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