By Sheri Kasprzak
New York, Feb. 27 - Aqua-Pure Ventures has increased to C$12 million its previously announced C$11 million private placement of units and debentures.
The company plans to sell up to C$7 million in convertible debentures and up to 6,666,667 units at C$0.75 each.
The units consist of one share and one half-share warrant. The whole warrants are exercisable at C$1.00 each for two years.
The debentures are due in five years and one month and are convertible into common shares at C$0.75 each for the first two years, C$1.00 each for the third year, C$1.25 each for the fourth year and C$1.50 for the final year.
The deal priced Feb. 22 as an C$11 million offering of 5,333,333 units and up to C$7 million in debentures.
Primary Capital Inc. will act as agent for the offering.
Based in Calgary, Alta., Aqua-Pure provides industrial and municipal wastewater services.
| Issuer: | Aqua-Pure Ventures
|
| Issue: | Units of one share and one half-share warrant; secured convertible debentures
|
| Total amount: | C$12 million
|
| Agent: | Primary Capital Inc.
|
| Pricing date: | Feb. 22
|
| Upsized: | Feb. 27
|
| Stock symbol: | TSX Venture: AQE
|
| Stock price: | C$0.86 at close Feb. 22
|
| Stock price: | C$0.83 at close Feb. 26
|
|
|
| Units
|
| Amount: | C$5 million
|
| Units: | 6,666,667
|
| Price: | C$0.75
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00
|
|
|
| Convertible debentures
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| Amount: | C$7 million
|
| Maturity: | Five years and one month
|
| Price: | Par
|
| Conversion price: | C$0.75 in the first two years; C$1.00 in the third year; C$1.25 in the fourth year; C$1.50 in the fifth year
|
| Warrants: | No
|
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