Three-year debentures sold by Prosdocimi along with two-year warrants
By Devika Patel
Knoxville, Tenn., July 12 - Aqua-Pure Ventures Inc. said it will raise between $2 million and $5 million in a private placement 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 one warrant for each $1.00 invested. The warrants are each exercisable at $0.45 for two years.
Prosdocimi Ltd. is the agent.
Settlement is expected in two tranches on July 16 and Aug. 16.
Proceeds will be used for the construction of additional "Nomad" and "Rover" units that will be used to address the growing demand for oil field and shale gas wastewater recycling and for 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: | $2 million (minimum), $5 million (maximum)
|
| Maturity: | Three years
|
| Coupon: | 8%
|
| Conversion price: | $0.30
|
| Warrants: | One warrant for each $1.00 invested
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $0.45
|
| Agent: | Prosdocimi Ltd.
|
| Pricing date: | July 12
|
| Settlement dates: | July 16, Aug. 16
|
| Stock symbol: | TSX Venture: AQE
|
| Stock price: | C$0.26 at close July 11
|
| Market capitalization: | C$23.34 million
|
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