By Devika Patel
Knoxville, Tenn., Feb. 11 - Wood Composite Technologies Inc. announced it will conduct two private placements of stock to raise C$4.25 million.
The company will sell up to 8.3 million common shares at C$0.15 each for C$1.25 million in a non-brokered deal and up to 20 million shares at the same price for C$3 million in a brokered deal.
There is a C$205,000 greenshoe on the non-brokered placement and a C$1,005,000 over-allotment on the brokered offering.
The brokered deal is being conducted by Canaccord Adams.
Settlement is expected on Feb. 28.
Proceeds will be used for working capital, marketing expansion and inventory build-up.
Based in Nisku, Alta., Wood Composite manufactures composite decking products.
| Issuer: | Wood Composite Technologies Inc.
|
| Issue: | Common shares
|
| Amount: | C$4,245,000
|
| Greenshoe: | C$1.21 million
|
| Shares: | 28.3 million
|
| Price: | C$0.15
|
| Warrants: | No
|
| Agent: | Non-brokered (for C$1.245 million), Canaccord Adams (for C$3 million)
|
| Pricing date: | Feb. 11
|
| Settlement date: | Feb. 28
|
| Stock symbol: | TSX Venture: WCT
|
| Stock price: | C$0.145 at close Feb. 8
|
© 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.
