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Mosaic Capital Corporation Announces Closing of Offering of Subscription Privileges
Mosaic Capital Corporation Announces Closing of Offering of Subscription Privileges ...
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[{"type":"text","content":"\n\n\n\nMosaic Capital Corporation Announces Closing of Offering of Subscription Privileges\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, March 3, 2017\n\n\n\nCALGARY, March 3, 2017 /CNW/ - Mosaic Capital Corporation (\"Mosaic\") (TSX-V Symbols: M, M.PR.B, M.DB and M.DB.A) is pleased to announce that it has received gross proceeds of $15,192,960 upon the closing of its previously announced offering of up to 2,551,020 subscription privileges (the \"Subscription Privileges\"), which Subscription Privileges entitled the holders thereof to subscribe for an aggregate of up to 2,551,020 common shares of Mosaic at a subscription price of $9.80 per share (the \"Offering\"). A total of 1,550,302 common shares of Mosaic were issued upon closing of the Offering.\n\nAs disclosed in Mosaic's short form prospectus dated February 3, 2017 (the \"Prospectus\"), the net proceeds of the Offering will be used for future acquisitions that fit Mosaic's acquisition criteria and for general corporate purposes, which may include paying down existing credit facilities and payment of expenses in connection with Mosaic's day-to-day operations. Unallocated funds will be added to working capital.\n\nMark Gardhouse, Mosaic's CEO commented \"We are very appreciative of the long-term support and interest of the Offering participants in continuing to be a part of Mosaic's future growth.\"\n\nMosaic paid a fee of $0.25 per Subscription Privilege exercised to the securities broker or dealer, bank or trust company or other CDS participant whose client exercised the Subscription Privilege. No managing or soliciting dealer was engaged in connection with the Offering. In addition, Mosaic did not receive, nor did it seek, any standby commitments in respect of the Offering.\n\nFor the full details of the Offering see the Prospectus, a copy of which has been filed on SEDAR at www.sedar.com. \n\nABOUT MOSAIC CAPITAL CORPORATION\n\nMosaic is a Canadian investment company that owns a portfolio of established businesses which span a diverse range of industries and geographies. Mosaic's s...