By Laura Lutz
Washington, March 8 - Westshore Terminals Income Fund raised C$19,999,994 from a private placement of fund units.
The company issued 1,913,875 fund units in the placement at C$10.45 apiece.
The investor in the private placement was 0774327 B.C. Ltd., an affiliate of Jim Pattison Developments Ltd. and a member of The Jim Pattison Group.
The company raised an additional C$20,430,063 in a rights offering. Jim Pattison Developments and its affiliates exercised all of the rights issued to them as unitholders.
Following the placement and the rights offering, Jim Pattison Developments and its affiliates hold 11,338,123, or 15.27%, of Westshore's outstanding units.
Westshore is a holding company for Westshore Terminals LP, a coal export facility based in Delta, B.C.
| Issuer: | Westshore Terminals Income Fund
|
| Issue: | Fund units
|
| Amount: | C$19,999,994
|
| Units: | 1,913,875
|
| Price: | C$10.45
|
| Warrants: | No
|
| Investor: | 0774327 B.C. Ltd., an affiliate of Jim Pattison Developments Ltd.
|
| Announcement date: | March 8
|
| Stock symbol: | Toronto: WTE.UN
|
| Stock price: | C$11.35 at close March 7
|
© 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.
