By Laura Lutz
Washington, Jan. 31 - Exchange Industrial Income Fund released terms for its previously announced C$15 million private placement of trust units.
The company plans to sell 1.2 million trust units at C$12.50 apiece.
The deal will be placed through a syndicate of agents led by Desjardins Securities Inc. and Wellington West Capital Inc. and including CIBC World Markets Inc.
The offering is expected to close Feb. 15.
Proceeds will be used for the acquisition of The Water Blast Group and for working capital.
The acquisition is set to close in February.
Based in Winnipeg, Man., Exchange Industrial invests in Canadian companies.
| Issuer: | Exchange Industrial Income Fund
|
| Issue: | Trust units
|
| Amount: | C$15 million
|
| Units: | 1.2 million
|
| Price: | C$12.50
|
| Warrants: | No
|
| Agents: | Desjardins Securities Inc. (lead), Wellington West Capital Inc. (lead), CIBC World Markets Inc.
|
| Announcement date: | Jan. 11
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 15
|
| Stock symbol: | TSX Venture: EIF.UN
|
| Stock price: | C$13.00 at close Jan. 31
|
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