By Laura Lutz
Des Moines, April 23 - Wesdome Gold Mines Ltd. arranged a private placement of senior unsubordinated convertible debentures for C$15 million.
The 7% note will mature in five years. It will be convertible into common shares at C$2.25 in the first two years and at C$3.25 thereafter.
Loewen, Ondaatje, McCutcheon Ltd. and Pollitt & Co. Inc. will act as co-lead agents.
Proceeds will be used for corporate development and working capital.
Settlement is expected on May 15.
Wesdome is a Toronto-based gold producer.
| Issuer: | Wesdome Gold Mines Ltd.
|
| Issue: | Senor unsubordinated convertible debentures
|
| Amount: | C$15 million
|
| Maturity: | Five years
|
| Coupon: | 7%
|
| Price: | Par
|
| Yield: | 7%
|
| Conversion price: | C$2.25 for the first two years, then C$3.25
|
| Agents: | Loewen, Ondaatje, McCutcheon Ltd.; Pollitt & Co. Inc.
|
| Pricing date: | April 23
|
| Settlement date: | May 15
|
| Stock symbol: | Toronto: WDO
|
| Stock price: | C$1.51 at close April 23
|
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