Business
MBAC Announces C$18,004,000 Bought Deal Public Offering of Units
/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR D...
About this update from Itafos Inc
[{"type":"text","content":"\n\n\n/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS\n NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR\n DISSEMINATION IN THE UNITED STATES./\n\n\nTSX: MBC \nOTCQX: MBCFF \nShares Outstanding: 152,029,492 \nFully Diluted: 171,450,330\n\n\nTORONTO, March 27, 2014 /CNW/ - MBAC Fertilizer Corp. (\"MBAC\" or the \"Company\") (TSX:MBC and OTCQX:MBCFF) has today entered into an agreement with Canaccord Genuity Corp. (the\n \"Underwriter\"), pursuant to which the Underwriter has agreed to\n purchase, on a bought deal basis, 25,720,000 units of the Company (the\n \"Units\") at an issue price of C$0.70 per Unit (the \"Issue Price\") for\n gross proceeds to the Company of C$18,004,000 (the \"Offering\").\n\n\nEach Unit will be comprised of one common share (each, a \"Unit Share\")\n of the Company and one common share purchase warrant (each, a\n \"Warrant\").  Each Warrant will entitle the holder to purchase one\n common share at an exercise price of C$1.00 per share at any time prior\n to the date that is 60 months from the closing date of the Offering.\n The Underwriter will also have the option exercisable for a period of\n 30 days after and including the closing date of the Offering, to\n purchase up to an additional 3,858,000 Units at the Issue Price per\n Unit to cover over-allotments, if any, and for market stabilization\n purposes. The option will be exercisable for Unit Shares and/or\n Warrants, or any combination thereof. If this option is exercised in\n full, an additional C$2,700,600 will be raised pursuant to the Offering\n and the aggregate gross proceeds of the Offering will be C$20,704,600.\n\n\nThe net proceeds of the Offering will be used for working capital and\n for other general corporate purposes.\n\n\nThe Units will be offered by way of a short form prospectus in each of\n the Provinces of British Columbia, Alberta, Manitoba, Saskatchewan and\n Ontario, and may be offered in the United States on a private placement\n basis pursuant to an exemption from registration requirements of the\n United States Securities Act of 1933, as amended (the \"U.S. Securities\n Act\"), and certain other jurisdictions.\n\n\nThe offering is scheduled to close on or about April 17, 2014 and is\n subject to the receipt of all necessary regulatory and stock exchange\n approvals, including the...