By Sheri Kasprzak
New York, March 15 - MagIndustries Corp. said it has priced a C$15,312,500 private placement.
The deal includes up to 12.5 million shares at C$1.225 each.
Kingsdale Capital Markets Inc. is the placement agent for 2 million of the shares.
The offering is scheduled to close March 17.
Proceeds will be used for feasibility studies on a wood-processing plant associated with the company's forestry division.
Toronto-based MagIndustries develops industrial projects in the Republic of Congo and the Democratic Republic of Congo.
| Issuer: | MagIndustries Corp.
|
| Issue: | Stock
|
| Amount: | C$15,312,500 (maximum)
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| Shares: | 12.5 million (maximum)
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| Price: | C$1.225
|
| Warrants: | No
|
| Placement agent: | Kingsdale Capital Markets Inc. (for 2 million shares)
|
| Pricing date: | March 15
|
| Settlement date: | March 17
|
| Stock symbol: | TSX Venture: MAA
|
| Stock price: | C$1.25 at close March 14
|
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