By Sheri Kasprzak
Atlanta, Feb. 17 - Liquor Stores Income Fund revealed details on its previously announced C$30,012,000 private placement.
The company sold 1.83 million trust units at C$16.40 each.
RBC Capital Markets Inc. is the placement agent.
The company plans to use the proceeds to fund the acquisition of 13 new liquor stores in Alberta and the development of two stores in British Columbia. The remainder of the funds will be used to repay debt and for general corporate purposes.
The company also announced that after the acquisitions close, it plans to increase its annual distribution to C$1.075 per unit from C$1.
Based in Edmonton, Alta., Liquor Stores Income Fund is a liquor store operator.
| Issuer: | Liquor Stores Income Fund
|
| Issue: | Trust units
|
| Amount: | C$30,012,000
|
| Trust units: | 1.83 million
|
| Price: | C$16.40
|
| Warrants: | No
|
| Placement agent: | RBC Capital Markets Inc.
|
| Pricing date: | Feb. 16
|
| Stock price: | C$16.50 at close Feb. 16
|
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