Crownia arranges $5-million private placement
CROWNIA HOLDINGS Ltd. intends to arrange a non-brokered private placement to raise up to $5-million through the issuance of up to 25 million units at a price of 20 cents per unit for working capital purposes. Each unit will consist of one common share and one-half of one transferable share purchase warrant, and each whole warrant will entitle the registered holder thereof to purchase one additional common share of the company at a price of 35 cents per share for a period of three years from the closing date. All securities issued pursuant to the financing will be subject to a four-month hold period from the date of issuance.
The net proceeds from the financing will be used by the company for corporate purposes and general working capital.
The closing or completion of the financing is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the TSX Venture Exchange.
About Crownia Holdings Ltd.
As a specialty steel trading company, Crownia provides value-add by identifying suitable suppliers for products that best suit customer needs, establishing distribution centres in optimal locations and providing superior sales and after-sale services to
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Savio Chiu, Shanhai Cong, Ian Mark Mallmann, Xizhou Tong, Yuanjian Zong
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