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Mosaic Capital Corporation Announces Partial Exercise of Over-Allotment Option
Mosaic Capital Corporation Announces Partial Exercise of Over-Allotment Option Mos...
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[{"type":"text","content":"\n\n\n\nMosaic Capital Corporation Announces Partial Exercise of Over-Allotment Option\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nMosaic Capital Corporation Announces Partial Exercise of Over-Allotment Option\nCanada NewsWire\nCALGARY, Nov. 30, 2016\n\n\n\n/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\n\n\n\nCALGARY, Nov. 30, 2016 /CNW/ - Mosaic Capital Corporation (\"Mosaic\") (TSX-V Symbols: M, M.PR.A and M.DB) announced today that the underwriting syndicate of its previously announced public offering (the \"Offering\") of $15,000,000 principal amount of 7% convertible unsecured senior subordinated debentures (the \"Debentures\") has partially exercised the over-allotment option (the \"Over-Allotment Option\") previously disclosed in Mosaic's news release dated November 10, 2016, acquiring $626,000 principal amount of the total $2,250,000 principal amount of Debentures issuable upon exercise of the Over-Allotment Option. This issuance increases the total gross proceeds from the Offering to $15,626,000.\n\nThe Offering was conducted through a syndicate of underwriters led by Canaccord Genuity Corp. and also included GMP Securities L.P., Raymond James Ltd., Echelon Wealth Partners Inc., Industrial Alliance Securities Inc., AltaCorp Capital Inc., Cormark Securities Inc., Haywood Securities Inc. and Mackie Research Capital Corporation.\n\nAs with the net proceeds from the Offering that closed on November 10, 2016, the net proceeds from the exercise of the Over-Allotment Option will be used for general corporate purposes including future acquisitions, paying down existing credit facilities and working capital.\n\nThe Debentures are listed and posted for trading on the TSX Venture Exchange under the symbol M.DB. Mosaic now has $15,626,000 aggregate principal amount of Debentures issued and outstanding.\n\nThe Debentures issued under the Offering were offered by way of a short form prospectus supplement da...