Business
Allen-Vanguard Corporation issued receipt for final prospectus for $50,000,000 bought deal financing
Allen-Vanguard Corporation issued receipt for final prospectus for $50,000,000 bought deal financing.
About this update from Verisante Technology, Inc.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n\n\nDISSEMINATION IN THE UNITED STATES/\n\n\nOTTAWA, March 5 /CNW Telbec/ - Allen-Vanguard Corporation (the "Company"\nor "Allen-Vanguard") (TSX: VRS) of Ottawa, Canada is pleased to announce that\na receipt has been issued for its final short form prospectus which was filed\nwith Canadian securities regulatory authorities in the provinces of British\nColumbia, Alberta, Manitoba and Ontario. As previously announced, Versant\nPartners Inc. and Paradigm Capital Inc. have agreed to purchase, on a bought\ndeal basis, 10,000,000 common shares at a price of Cdn$5.00 per share, for\naggregate gross proceeds to the Company of Cdn$50,000,000 (the "Offering").\nThe underwriters will also have an option, exercisable for a period of 30 days\nfollowing the closing date to purchase from the Company up to an additional\n1,500,000 shares (up to 15% of the Offering) at the issue price of Cdn$5.00\nfor over-allotments and market stabilization purposes.\n\n\nThe Company intends to use the net proceeds of the Offering in\nfurtherance of corporate development plans announced February 14th, 2007,\nincluding acquisitions, and for working capital and general corporate\npurposes.\n\n\nThe Offering is expected to close on or about March 9th, 2007 and is\nsubject to certain conditions including, but not limited to, the receipt of\nall necessary approvals including the approval of the Toronto Stock Exchange\nand applicable securities regulatory authorities.\n\n\nThis news release does not constitute an offer to sell or a solicitation\nof an offer to buy any of the securities in the United States. The securities\nhave not been and will not be registered under the United States Securities\nAct of 1933, as amended or any state securities laws and may not be offered or\nsold within the United States or to U.S. Persons unless an exemption from such\nregistration is available. This press release shall not constitute an offer to\nsell or the solicitation of an offer to buy nor shall there be any sale of the\nsecurities in any State in which such offer, solicitation or sale would be\nunlawful.\n\n\nAbout Allen-Vanguard\n\n\nAllen-Vanguard Corporation and its subsidiaries worldwide operate under\nthe brand "Allen-Vanguard". The Company develops and marke...