Q Investments arranges $50-million private placement
Q Investments Ltd. has arranged a $50-million private placement with 166.66 million units at 30 cents per unit. The company will use the proceeds for working capital.
Q INVESTMENTS Ltd. has arranged a non-brokered private placement offering of up to 166,666,667 units at a price of 30 cents per unit for gross proceeds of up to $50-million. Each unit will consist of one common share and one-half of one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share of the company at a price of $1 for two years following closing of the private placement.
The company intends to use the net proceeds of the private placement to finance further investments by the company, pursuant to its investment mandate, and for general working capital. Completion of the private placement remains subject to the approval of the TSX Venture Exchange. All securities issued pursuant to the private placement will be subject to a statutory four-month hold period. The company may pay finders’ fees in connection with the private placement.
We seek Safe Harbor.
Michael John Andrews, John Howard Martin, Tracy Packwood, John Graham Proust
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