Deal funds subordinate debt repayment and general corporate purposes
By Devika Patel
Knoxville, Tenn., Aug. 18 - Lonestar West Inc. said it raised C$1.29 million in a non-brokered private placement of stock.
The company sold 2,154,900 common shares at C$0.60 per share, a 25% discount to the Aug. 17 closing share price of C$0.80.
Proceeds will be used for subordinate debt repayment and general corporate purposes.
Lonestar is a Toronto-based provider of hydro-vacuum services.
Issuer: | Lonestar West Inc.
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Issue: | Common stock
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Amount: | C$1,292,940
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Shares: | 2,154,900
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Price: | C$0.60
|
Warrants: | No
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Agent: | Non-brokered
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Settlement date: | Aug. 18
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Stock symbol: | TSX Venture: LSI
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Stock price: | C$0.80 at close Aug. 18
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Market capitalization: | C$10.34 million
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