By Sheri Kasprzak
Atlanta, Feb. 28 - AeroMechanical Services Ltd. said it will raise up to C$2.5 million in a private placement of units.
The offering includes up to 6.25 million units at C$0.40 each. The units are comprised of one share and one half-share warrant.
The whole warrants allow for an additional share at C$0.50 each for two years.
StephenAvenue Securities Inc. is the placement agent.
Based in Calgary, Alta., AeroMechanical makes products for the aerospace industry. The proceeds will be used for marketing expenses and working capital.
| Issuer: | AeroMechanical Services Ltd.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$2.5 million
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| Units: | 6.25 million
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| Price: | C$0.40
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.50
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| Placement agent: | StephenAvenue Securities Inc.
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| Pricing date: | Feb. 25
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| Stock price: | C$0.40 at close Feb. 25
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