By Sheri Kasprzak
New York, Jan. 13 - Glacier Ventures International Corp. said it has concluded a private placement for C$29.6 million.
The company sold 10,385,965 subscription receipts at C$2.85 each.
Each subscription receipt is exchangeable for one common share of Glacier once the company closes its acquisition of 3120574 Nova Scotia Co.
Proceeds will be used to fund the acquisition.
If the acquisition does not close by Feb. 28, the receipts will be returned to the investors.
A syndicate of placement agents led by Raymond James Ltd., BMO Nesbitt Burns Inc. and CIBC World Markets Inc. arranged the offering. The other agents in the syndicate were Canaccord Capital Corp, Sprott Securities Inc. and Haywood Securities Inc.
Glacier, based in Vancouver, B.C., is a communications company focused on acquiring businesses in the print, electronic and online media sector.
| Issuer: | Glacier Ventures International Corp.
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| Issue: | Subscription receipts exchangeable on a one-for-one basis for shares
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| Amount: | C$29.6 million
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| Receipts: | 10,385,965
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| Price: | C$2.85
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| Warrants: | No
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| Placement agents: | Raymond James Ltd. (lead), BMO Nesbitt Burns Inc. (lead), CIBC World Markets Inc. (lead), Canaccord Capital Corp., Sprott Securities Inc., Haywood Securities Inc.
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| Settlement date: | Jan. 13
|
| Stock symbol: | Toronto: GVC
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| Stock price: | C$3.60 at close Jan. 13
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