By Devika Patel
Knoxville, Tenn., Dec. 5 - Lakeside Steel Corp. has completed a C$10 million private placement of units.
The company sold 23,809,524 units at C$0.42 apiece. Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$0.52 for two years.
Northern Securities Inc. led a syndicate of agents for this deal.
Proceeds will be used to repay debt and for capital expenditures and working capital purposes.
Based in Welland, Ont., Lakeside Steel makes seamless and welded standard pipe, oil well casing and tubing, line pipe and cold drawn mechanical tubing.
| Issuer: | Lakeside Steel Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$10 million
|
| Units: | 23,809,524
|
| Price: | C$0.42
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.52
|
| Agents: | Northern Securities Inc. (lead)
|
| Settlement date: | Dec. 5
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
