By Laura Lutz
Des Moines, Sept. 20 - Aadco Automotive Inc. plans to conduct a private placement of units for C$3.5 million.
The company intends to sell 35 million units of one share and one warrant for C$0.10 per unit. Each warrant will be exercisable at C$0.15 per share until Dec. 15, 2007.
Proceeds will be used for working capital and acquisitions.
Aadco, based in Brampton, Ont., manufactures automotive parts for customers in the greater Toronto area.
| Issuer: | Aadco Automotive Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$3.5 million
|
| Units: | 35 million
|
| Price: | C$0.10
|
| Warrants: | One per unit
|
| Warrant expiration: | Dec. 15, 2007
|
| Warrant strike price: | C$0.15
|
| Pricing date: | Sept. 20
|
| Stock symbol: | TSX Venture: AA
|
| Stock price: | C$0.09 at close on Sept. 19
|
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