Deal conducted to finance company's general working capital purposes
By Devika Patel
Knoxville, Tenn., Aug. 17 - Loyalist Group Ltd. said it plans a C$4 million non-brokered private placement of stock.
The company will sell 20 million common shares at C$0.20 apiece, a 25.93% discount to the Aug. 16 closing share price of C$0.27.
Proceeds will be used for general working capital purposes and potential acquisitions.
Based in Toronto, Loyalist Group operates English as a Second Language schools in Toronto and Vancouver, B.C.
Issuer: | Loyalist Group Ltd.
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Issue: | Common shares
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Amount: | C$4 million
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Shares: | 20 million
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Price: | C$0.20
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Warrants: | No
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Agent: | Non-brokered
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Pricing date: | Aug. 17
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Stock symbol: | TSX Venture: LOY
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Stock price: | C$0.27 at close Aug. 16
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