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TSO3 Inc Announces CDN $ 7,000,000 Offering On Bought Deal Basis


Wednesday, 13 Feb 2013 08:21am EST 

TSO3 Inc announced that it has entered into a bought deal agreement with a syndicate of underwriters led by Desjardins Capital Markets (collectively, the Underwriters), pursuant to which the Underwriters have agreed to purchase 7,000,000 common shares (the Common Shares) in the capital of TSO3 at the price of CDN $1.00 per Common Share (the Issue Price) for aggregate gross proceeds to TSO3 of CDN $7,000,000. Under the terms of the agreement, the Company will request an advance income tax ruling from Agence du revenu du Quebec confirming that the Common Shares constitute qualifying shares for the Quebec Stock Savings Plan II, in accordance with applicable legislation. The Offering is expected to close on or about March 4, 2013 and is subject to customary conditions and regulatory approvals. 

Company Quote

0.72
-0.03 -4.00%
3:55pm EDT