Non-brokered deal funds additional fleet purchases, corporate purposes
By Devika Patel
Knoxville, Tenn., Nov. 6 - Lonestar West Inc. said it settled a C$3.04 million non-brokered private placement of stock.
The company sold 2,172,928 common shares at C$1.40 per share. The price per share is a 9.68% discount to the Nov. 5 closing share price of C$1.55.
Proceeds will be used to purchase additional fleet and general corporate purposes.
Lonestar is a Toronto-based provider of hydro-vacuum services.
| Issuer: | Lonestar West Inc.
|
| Issue: | Common shares
|
| Amount: | C$3,042,099
|
| Shares: | 2,172,928
|
| Price: | C$1.40
|
| Warrants: | No
|
| Agents: | Non-brokered
|
| Settlement date: | Nov. 6
|
| Stock symbol: | TSX Venture: LSI
|
| Stock price: | C$1.55 at close Nov. 5
|
| Market capitalization: | C$24.04 million
|
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