Business
Humber signs Term Sheet for up to $1 Million Private Placement
EDMONTON, Jan. 30 /CNW/ - Humber Capital Corporation (TSX-V: RUM) ("Humber"), listed on the TSX V...
About this update from Rocky Mountain Liquor Inc.
[{"type":"text","content":"\n\n\n\nEDMONTON, Jan. 30 /CNW/ - Humber Capital Corporation (TSX-V: RUM)\n("Humber"), listed on the TSX Venture Exchange (the "Exchange"), announced\ntoday that Humber has entered into a non-binding term sheet (the "Term Sheet")\nfor a private placement of a convertible debenture (the "Debenture"), not to\nexceed $1 million with a private investor.\n\n\nHumber owns 100% of Andersons Liquor Inc. ("Andersons") headquartered in\nEdmonton Alberta, which owns and operates private liquor stores in that\nprovince. The Debenture may support Andersons' previously disclosed plan to\ngrow through the acquisition of private liquor stores.\n\n\nThe proposed Debenture is a 5 year unsecured subordinated note and will\nbear interest at 8.25% per annum payable annually. The Debenture is\nconvertible into common shares of Humber after the fourth month of the date of\nissue at a conversion price of $0.315.\n\n\nCompletion of the Proposed Transaction is subject to a number of\nconditions, including Exchange approval, approval by Humber's board of\ndirectors, and the completion of the Debenture described above setting forth\nthe terms and conditions in the Term Sheet.\n\n\nThere can be no assurance that the placement of the Debenture will be\ncompleted on the terms described as proposed or at all.\n\n\nIf and when a definitive agreement with respect to the Proposed\nTransaction is executed, Humber will issue a further announcement outlining\nthe details, in accordance with Exchange policy.\n\n\nThe Exchange has in no way passed upon the merits of the Proposed\nTransaction and has neither approved nor disapproved the contents of this\npress release. The Exchange does not accept responsibility for the\nadequacy or accuracy of this press release.\n\n\nThis news release, as of this date, contains "forward-looking statements"\nwithin the meaning of applicable securities laws relating to potential\nacquisitions. Readers are cautioned not to place undue reliance on\nforward-looking statements. Actual results and developments may differ\nmaterially from those contemplated by these statements depending on, among\nother things, the risks that acquisitions may not materialize. If they do\nmaterialize, there remains a risk of non-execution for any reason (including\nthe failure to obtain the required ...