By Devika Patel
Knoxville, Tenn., Nov. 12 - AIM Resources Ltd. said it plans to price a A$50 million private placement of convertible debentures.
The notes will mature on Dec. 19, 2012, pay an unspecified amount of interest semiannually and be convertible into ordinary shares at an unspecified price.
Westwind Partners Inc. will act as lead agent for a syndicate including Cormark Securities Inc. and MGI Securities Inc. The agents have a A$20 million greenshoe.
The deal is expected to be completed in two tranches, with the first tranche scheduled to close on Dec. 18 and the second to close following shareholder approval.
Proceeds will be used for exploration, development and general corporate purposes.
AIM is a mineral exploration company based in Sydney, Australia.
| Issuer: | AIM Resources Ltd.
|
| Issue: | Convertible debentures, convertible into ordinary shares
|
| Amount: | A$50 million
|
| Greenshoe: | A$20 million
|
| Maturity: | Dec. 19, 2012
|
| Coupon: | Unspecified, payable semiannually
|
| Conversion price: | Unspecified
|
| Warrants: | No
|
| Agents: | Westwind Partners Inc. (lead), Cormark Securities Inc. MGI Securities Inc.
|
| Announcement date: | Nov. 12
|
| Stock symbol: | Australia: AIM
|
| Stock price: | A$0.22 at close Nov. 12
|
|
|
| First tranche
|
| Settlement date: | Dec. 18
|
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