By Devika Patel
Knoxville, Tenn., April 28 - AltaCanada Energy Corp. said it plans a private placement of convertible debentures for C$1 million.
The notes will carry a coupon of 9% and mature on Jan. 30, 2011. They are convertible into common shares at a conversion price of C$0.10.
Settlement is expected May 5.
Proceeds will be used for general corporate purposes.
Calgary, Alta.-based AltaCanada Energy is an oil and gas company.
| Issuer: | AltaCanada Energy Corp.
|
| Issue: | Convertible debentures
|
| Amount: | C$1 million
|
| Maturity: | Jan. 30, 2011
|
| Coupon: | 9%
|
| Price: | Par
|
| Yield: | 9%
|
| Conversion price: | C$0.10
|
| Warrants: | No
|
| Pricing date: | April 28
|
| Settlement date: | May 5
|
| Stock symbol: | TSX Venture: ANG
|
| Stock price: | C$0.10 at close April 28
|
| Market capitalization: | C$7.44 million
|
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