By Laura Lutz
Des Moines, Aug. 6 - Extenway Solutions Inc. arranged a private placement of common shares with three major shareholders for a total of C$2 million.
John McAllister Holdings Inc. agreed to buy 8,333,333 shares; David Brown agreed to buy 16,666,667 shares; and Innovatech Quebec and Chaudiere-Appalaches agreed to buy 8,333,333 shares.
The shares are priced at C$0.06 each.
Settlement is expected on Aug. 14.
Proceeds will be used to repay C$1.5 million of debt. The remaining C$500,000 will be used for working capital.
Montreal-based Extenway provides services to the hospitality industry.
| Issuer: | Extenway Solutions Inc.
|
| Issue: | Shares
|
| Amount: | C$2 million
|
| Shares: | 33,333,333
|
| Price: | C$0.06
|
| Warrants: | No
|
| Investors: | John McAllister Holdings Inc. (for 8,333,333 shares); David Brown (for 16,666,667 shares); Innovatech Quebec and Chaudiere-Appalaches (for 8,333,333 shares)
|
| Pricing date: | Aug. 6
|
| Settlement date: | Aug. 14
|
| Stock symbol: | TSX Venture: EY
|
| Stock price: | C$0.04 at close Aug. 6
|
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