Proceeds used for business activity needs, general corporate purposes
By Devika Patel
Knoxville, Tenn., Dec. 1 - Terra Firma Capital Corp. said it has arranged a C$6 million non-brokered private placement of stock.
The company will sell 12 million common shares at C$0.50 apiece, a 58.73% premium to the Nov. 30 closing share price of C$0.315.
Counsel Corp. will invest C$1.15 million, Allan Silber will invest C$100,000, and Y. Dov Meyer will buy C$100,000 of the shares.
Proceeds will be used to enhance Terra Firma's liquidity position, for business activity needs and for other general corporate purposes.
Terra Firma is a real estate company in Toronto.
| Issuer: | Terra Firma Capital Corp.
|
| Issue: | Common shares
|
| Amount: | C$6 million
|
| Shares: | 12 million
|
| Price: | C$0.50
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investors: | Counsel Corp. (for C$1.15 million), Allan Silber (for C$100,000) and Y. Dov Meyer (for C$100,000)
|
| Pricing date: | Dec. 1
|
| Stock symbol: | TSX Venture: TII
|
| Stock price: | C$0.32 at close Dec. 1
|
| Market capitalization: | C$5.92 million
|
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