Business
Dynacor Group Announces Filing of Prospectus Supplement for Upsized Public Offering of Common Shares
PROSPECTUS SUPPLEMENT AND BASE SHELF PROSPECTUS ARE ACCESSIBLE ON SEDAR+ MONTREAL / Feb 04, 2025 / Business Wire / Dynacor Group Inc. (TSX-DNG) (“Dynacor” or th
About this update from Dynacor Group Inc
[{"type":"text","content":"PROSPECTUS SUPPLEMENT AND BASE SHELF PROSPECTUS ARE ACCESSIBLE ON SEDAR+ MONTREAL / Feb 04, 2025 / Business Wire / Dynacor Group Inc. (TSX-DNG) (“Dynacor” or the “Corporation”), is pleased to announce that it has filed a prospectus supplement (the “Prospectus Supplement”) to its short form base shelf prospectus dated January 28, 2025 (the ‘Shelf Prospectus”) with respect to its previously announced “best effort” agency offering of up to 5,000,000 common shares of the Corporation (“Common Shares”) at a price of C$5.50 per Common Share (the “Issue Price”) for total gross proceeds of up to C$27.5 million (the “Offering”). The Prospectus Supplement has been filed with the securities regulatory authorities in each of the provinces and territories of Canada. The securities being offered have not been and will not be registered under the United States Securities Act of 1933 and accordingly will not be offered, sold or delivered, directly or indirectly within the United States, its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of, a U.S. person, except where an exemption from registration is available. This news release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Corporation in any jurisdiction. In connection with the Offering, the Corporation entered into an agency agreement dated February 3, 2025 with Canaccord Genuity Corp., acting as sole agent (the “Sole Agent”). The Sole Agent has been granted an option (the “Over-Allotment Option”) by the Corporation, which may be exercised up to 30 days following the Closing Date (as defined below), to offer and sell at the Issue Price up to an additional number of Common Shares as is equal to 15% of the number of Common Shares issued pursuant to the Offering. Subject to the receipt of all required regulatory approvals, including the final approval of the Toronto Stock Exchange (“TSX”), the Offering is expected to close on or about February 6, 2025 (the “Closing Date”). The Corporation intends to use the net proceeds of the Offering mainly for the construction of a new pilot processing plant and development of business in Sénégal, secondly for preparatory construction work on additional processing plants in Africa, other opportunities in Latin America, a...