Debentures sold by Axiom Capital Management, Boenning and Scattergood
By Devika Patel
Knoxville, Tenn., Dec. 3 - Aqua-Pure Ventures Inc. said it plans a private placement of $10 million of secured convertible debentures.
The 8% debentures are convertible into common stock at $0.30 per share and due in three years.
The investors also will receive 1.33 warrants for each $1.00 invested. The warrants are each exercisable at $0.40 for three years.
Axiom Capital Management Inc. and Boenning and Scattergood, Inc. were the agents.
Proceeds will be used for the construction of additional "Nomad" and "Rover" units for service in the rapidly growing, water intensive oil and liquids rich shale plays and general corporate purposes.
Based in Calgary, Alta., Aqua-Pure provides industrial and municipal wastewater services.
| Issuer: | Aqua-Pure Ventures Inc.
|
| Issue: | Secured convertible debentures
|
| Amount: | $10 million
|
| Maturity: | Three years
|
| Coupon: | 8%
|
| Conversion price: | $0.30
|
| Warrants: | 1.33 warrants for each $1.00 invested
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.40
|
| Agents: | Axiom Capital Management Inc. and Boenning and Scattergood, Inc.
|
| Pricing date: | Dec. 3
|
| Stock symbol: | TSX Venture: AQE
|
| Stock price: | C$0.16 at close Nov. 30
|
| Market capitalization: | C$14.64 million
|
© 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.
