Business
Prima Colombia Hardwood Inc. announces financing
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED S...
About this update from Bravern Ventures Ltd.
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n DISSEMINATION IN THE UNITED STATES/\n\n\nTSX-V: PCT \n\n\nVANCOUVER, Aug. 11, 2011 /CNW/ - Prima Colombia Hardwood Inc.\n (TSX-V:PCT) (\"Prima\" or the \"Company\") is pleased to announce a non-brokered private placement offering to\n raise gross proceeds of a minimum of $3.5 million and a maximum of $8.1\n million.  Under the terms of the private placement, the Company will\n offer for sale up to 90,000,000 Units (the \"Units\") at $0.09 per Unit.\n Each Unit will consist of one Common Share of the Company and one share\n purchase warrant (the \"Warrants\"), each of which will entitle the\n holder to purchase one additional Common Share of the Company at an\n exercise price of $0.35 per share until September 21, 2015.  The\n Warrants associated with this Offering will have the same terms as the\n existing Prima Warrants that are listed for trading on the TSX Venture\n Exchange under the symbol PCT.WT. The Company will pay a cash finders\n fee of 5% of the total gross proceeds of the Offering.\n\n\nThe Offering is expected to close on or about August 23, 2011 and is\n subject to certain customary conditions and regulatory approvals,\n including the approval of the TSX Venture Exchange. As the Units will\n be offered and sold on a private placement basis, all securities issued\n in connection with the Offering will be subject to a hold period of\n four months from the date of closing of the Offering.\n\n\nThe Company intends to use the minimum net proceeds of this Offering to\n obtain its cutting permits and the balance for its general working\n capital purposes and accordingly, the brokered financing announced on\n May 27, 2011 will not be proceeding.\n\n\nThis press release shall not constitute an offer to sell or the\n solicitation of an offer to buy nor shall there be any sale of the\n securities in any state of the United States in which such offer,\n solicitation or sale would be unlawful.  The securities have not been\n registered under the 1933 Act, and may not be offered or sold in the\n United States or to, or for the account or benefit of, U.S. persons (as\n such terms are defined in Regulation S under the 1933 Act) absent\n registration or an applicable exemption from the registration\n requirements.\n\n\nAbout Prima Colombia\...