By Laura Lutz
Des Moines, April 10 - LTT Capital Corp. announced that Arura Pharma Inc. plans to conduct a private placement of subscription receipts for up to C$2 million.
A C$1.165 million first tranche of the placement settled on March 31.
The placement consists of subscription receipts at C$0.25 each.
Upon completion of LTT's planned acquisition of Arura, each subscription receipt will be exchanged for two common shares and one warrant of the resulting company.
Each warrant will be exercisable at C$0.225 for two years.
Laurentian Bank Securities Inc. and Kingsdale Capital Markets Inc. are the co-agents.
Arura is a Montreal-based pharmaceutical company.
| Issuer: | Arura Pharma Inc.
|
| Issue: | Subscription receipts exchangeable for two shares and one warrant of LTT Capital Corp. following acquisition of Arura
|
| Amount: | C$2 million
|
| Subscription receipts: | 8 million
|
| Price: | C$0.25
|
| Warrants: | One upon exchange
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.225
|
| Agents: | Laurentian Bank Securities Inc., Kingsdale Capital Markets Inc.
|
| Announcement date: | April 10
|
| Settlement date: | March 31 (for C$1.165 million)
|
| Stock symbol: | TSX Venture: LTT.P
|
| Stock price: | C$0.185 at close April 9
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
