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Allen-Vanguard Corporation Announces Filing of Preliminary short-form Prospectus for Special Warrants issue
Allen-Vanguard Corporation Announces Filing of Preliminary short-form Prospectus for Special Warrants issue.
About this update from Verisante Technology, Inc.
[{"type":"text","content":"\n\n\n\n/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT\n\n\nAUTHORIZED OR INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE\n\n\nSERVICES OR FOR PUBLICATION OR DISSEMINATION IN THE UNITED STATES/\n\n\nOTTAWA, Sept. 14 /CNW Telbec/ - Allen-Vanguard Corporation\n("Allen-Vanguard" or the "Company") (TSX:VRS) is pleased to announce that,\nfurther to its news release dated August 15, 2007, it has filed its\npreliminary short form prospectus with Canadian securities regulatory\nauthorities qualifying the distribution of 14,650,000 common shares (the\n"Common Shares") of the Company issuable (without any further action by the\nholder thereof and for no additional consideration) upon the deemed exercise\nof 14,650,000 previously issued special warrants of the Company (the "Special\nWarrants") in the provinces of Ontario and Quebec.\n\n\nOn August 15, 2007, the Company sold and issued 14,650,000 subscription\nreceipts (the "Subscription Receipts"), by way of private placement, pursuant\nto prospectus exemptions under applicable securities legislation. The\nSubscription Receipts were sold to subscribers at a price of $6.85 per\nSubscription Receipt for aggregate gross proceeds of $100,352,500. Each of the\nSubscription Receipts will be automatically exercised (without any further\naction by the holder thereof and for no additional consideration) for one\nSpecial Warrant of the Company concurrently with the satisfaction of certain\nconditions, including the completion of the acquisition of Med-Eng Systems\nInc. (Med-Eng).\n\n\nEach Special Warrant entitles the holder thereof to receive, upon the\ndeemed exercise of the Special Warrant (without any further action by the\nholder thereof and for no additional consideration), subject to adjustment in\ncertain events, one Common Share at 5:00 p.m. (Toronto time) on the earliest\nof: (i) the third business day after the date a receipt is issued by the\nsecurities regulatory authorities in a jurisdiction of Canada for a final\nshort form prospectus qualifying the Common Shares to be issued upon the\ndeemed exercise of the Special Warrants; and (ii) December 16, 2007.\n\n\nThe acquisition of Med-Eng was funded through a combination of\n\n- $100 million in this subscription receipts private placement for\n 14.65 million ...