By Laura Lutz
Des Moines, June 20 - Mavrix Fund Management Inc. raised C$6 million from a private placement of a debenture and warrants with VentureLink Financial Services Innovation Fund Inc.
The debenture bears interest at 10% and matures on July 2, 2011.
VentureLink received warrants for 600,000 shares. The terms of the warrants were not announced.
Proceeds were used to purchase and retire an existing convertible debenture held by VentureLink and for general corporate purposes.
Mavrix is an asset management company based in Toronto.
| Issuer: | Mavrix Fund Management Inc.
|
| Issue: | Debenture and warrants
|
| Amount: | C$6 million
|
| Maturity: | July 2, 2011
|
| Coupon: | 10%
|
| Price: | Par
|
| Yield: | 10%
|
| Warrants: | For 600,000 shares
|
| Investor: | VentureLink Financial Services Innovation Fund Inc.
|
| Settlement date: | June 20
|
| Stock symbol: | Toronto: MVX
|
| Stock price: | C$1.95 at close June 19
|
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