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Provider: Thomson Reuters Stock Report
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Taggart Capital Corp Announces Closing Of Upsized Private Placements For Aggregate Gross Proceeds Of $6.3 Million In Connection With Its Qualifying Transaction


Friday, 21 Dec 2012 09:57am EST 

Taggart Capital Corp announced that it has completed its previously announced private placements, raising gross proceeds of approximately $6.3 million. The aggregate size of the private placements was increased from the previously announced $5.25 million, and modified from the initially anticipated issuance of common shares of the Company to subscription receipts (each a "Subscription Receipt"), at a price of $0.30 per Subscription Receipt (the "Offering"). The net proceeds of the Offering, to be received upon completion of the Release Conditions, will be used to, among other things, satisfy the cash component of the purchase price payable by the Company in connection with the acquisition of a recently constructed 10,574 square-foot two-storey commercial retail property located at 135 Main Street in Moncton, New Brunswick (the "QT Property"), which is expected to close in early January 2013. Any excess proceeds from the Offering will be used to pay any costs associated with the acquisition of the QT Property, to identify and pay deposits on future property acquisitions, and for general corporate and working capital purposes. The Offering has already been conditionally approved by the Exchange. 

Company Quote

2.15
0.15 +7.50%
21 Aug 2014