Private deal sells 14,829,676 shares at C$0.711 each to two investors
By Devika Patel
Knoxville, Tenn., Feb. 19 - Trimel Pharmaceuticals Corp. said it plans a C$10.54 million private placement of stock with two investors.
The company will sell 14,829,676 common shares at C$0.711 apiece, which is a 2.6% discount to the Feb. 18 closing share price of C$0.73.
Settlement is expected Feb. 25.
West Face Long Term Opportunities Global Master LP will invest C$4 million, and First Generation Capital Inc. will invest C$6.54 million.
Proceeds will be used for general working capital purposes.
The specialty pharmaceutical company is based in Toronto.
| Issuer: | Trimel Pharmaceuticals Corp.
|
| Issue: | Common shares
|
| Amount: | C$10,543,900
|
| Shares: | 14,829,676
|
| Price: | C$0.711
|
| Warrants: | No
|
| Investors: | West Face Long Term Opportunities Global Master LP (for C$4 million) and First Generation Capital Inc. (for C$6,543,900)
|
| Pricing date: | Feb. 19
|
| Settlement date: | Feb. 25
|
| Stock symbol: | Toronto: TRL
|
| Stock price: | C$0.73 at close Feb. 18
|
| Market capitalization: | C$105.29 million
|
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