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Loyalist Group Ltd Announces $11.0 Million Financing

Monday, 1 Apr 2013 08:16am EDT 

Loyalist Group Ltd announced that it has entered into an agreement with a syndicate of underwriters led by Cormark Securities Inc. (collectively the Underwriters) pursuant to which the Underwriters have agreed to purchase 11,112,000 common shares of the Company on a bought deal private placement basis at a price of $0.54 per Common Share (the Underwritten Offering). The Underwriters shall also have the option, exercisable at any time up to the closing of the offering, to purchase up to an additional 1,666,800 Common Shares at the issue price for additional gross proceeds of $900,072 (the Over-Allotment Option, and together with the Underwritten Offering, the Offering). The net proceeds of the Offering will be used for increased sales and marketing activities, for working capital and general corporate purposes and for potential acquisitions. 

Company Quote

0.055 +12.94%
3:59pm EDT