By Devika Patel
Knoxville, Tenn., July 16 - Ananda Capital Corp. said it raised C$7.52 million in a private placement of subscription receipts. The deal priced July 6.
Cormark Securities Inc. led a syndicate of agents for the private placement, which was completed on a best-efforts basis. The syndicate also included Union Securities Ltd., Haywood Securities Inc. and Raymond James Ltd.
The company sold 9,772,000 subscription receipts at C$0.77 apiece. Each receipt will entitle the holder to acquire one common share and a warrant, which will be exercisable for three years at an exercise price of C$1.10. Originally, the company only planned to issue half-share warrants in exchange for the receipts.
Ananda Capital is a capital pool company based in Vancouver, B.C. It plans a merger with Colonial Coal Corp. Immediately prior to the merger, Ananda will complete a one-for-two reverse stock split and will change its name to Colonial Coal International Corp.
| Issuer: | Ananda Capital Corp.
|
| Issue: | Subscription receipts for one share and one warrant
|
| Amount: | C$7,524,440
|
| Receipts: | 9,772,000
|
| Price: | C$0.77
|
| Warrants: | One warrant per receipt
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$1.10
|
| Agent: | Cormark Securities Inc. (lead), Union Securities Ltd., Haywood Securities Inc. and Raymond James Ltd.
|
| Pricing date: | July 6
|
| Settlement date: | July 16
|
| Stock symbol: | TSX Venture: ANN.P
|
| Stock price: | C$0.35 at close July 5
|
| Market capitalization: | C$392,000
|
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