Business
MBAC completes C$20.7 million financing including over-allotment option
/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DI...
About this update from Itafos Inc
[{"type":"text","content":"\n\n/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./\n\n\n\nTORONTO, April 17, 2014 /CNW/ - MBAC Fertilizer Corp. (\"MBAC\" or the \"Company\") (TSX:MBC and OTCQX:MBCFF) is pleased to announce that it has completed its previously announced equity financing, which included the full exercise of the over-allotment option granted for the underwriters, for aggregate gross proceeds of approximately $20.7 million (the \"Offering\"). A total of 29,578,000 units of the Company (the \"Units\"), including those issued pursuant to the exercise of the over-allotment option, were issued and sold at a price of $0.70 per Unit.  Each Unit was comprised of one common share of the Company and one common share purchase warrant (each, a \"Warrant\").  Each Warrant will entitle the holder to purchase one common share of the Company at an exercise price of C$1.00 per share at any time prior to April 17, 2019. The Offering was completed through a syndicate of underwriters led by Canaccord Genuity Corp., and including BMO Nesbitt Burns Inc., National Bank Financial Inc., GMP Securities L.P., Paradigm Capital Inc., and Raymond James Ltd. \n\nThe net proceeds of the Offering are intended to be used by the Company for working capital and general and administrative purposes, as more particularly described in the Company's short form prospectus dated April 10, 2014 (the \"Prospectus\").\n\nThis news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of MBAC in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any U.S. state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or unless an exemption from such registration is available.\n\nAbout MBACMBAC is focused on becoming a significant integrated producer of phosphate fertilizers and related products in the Brazi...