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Loyalist Group Ltd Increases Non Brokered Placement To $6 Million-Canada Stockwatch News


Tuesday, 9 Apr 2013 09:42am EDT 

Canada Stockwatch News reported that Loyalist Group Ltd has increased the non-brokered portion of its private-placement financing that was previously announced on April 1, 2013. Initially, the non-brokered private placement consisted of the issuance of up to 9,259,300 common shares at 54 cents per share. In increasing the non-brokered private placement, the Company will now issue up to 11,111,112 common shares at 54 cents per share for gross proceeds of up to approximately $6-million. Additionally, and at its sole option, the Company may further increase the size of the non-brokered private placement by an additional 1,666,666 common shares at 54 cents per share for additional gross proceeds of up to approximately $900,000. Insiders of the Company may participate in the non-brokered private placement and a portion of the non-brokered private placement may be subject to finders' fees. The offering remains scheduled to close on or about April 18, 2013. 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

0.485
0.015 +3.19%
27 Feb 2015