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NycePriceon Dec 16, 2014 11:22am
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TAX Loss is nuts this Year...Great Deals
TAX Loss is nuts this Year...Great Deals Mawson West enters deals over $33M (U.S.) financing
2014-12-15 16:12 ET - News Release
An anonymous director reports
GALENA ANNOUNCES PROPOSED FINANCING TRANSACTIONS WITH MAWSON WEST LIMITED
Galena Private Equity Resources Fund LP, through its manager, Galena Asset Management S.A., has entered into agreements with Mawson West Ltd., whereby subject to various conditions, it will result in Galena providing Mawson West with up to $33.4-million (U.S.) in financing. The proposed transactions are set forth in detail in Mawson West's press release of Dec. 11, 2014, but to summarize:
- Galena has entered into a subscription agreement with Mawson West, providing for the sale by Mawson West to Galena on a private placement basis of 41,666,667 ordinary shares of Mawson West at a purchase price of 12 cents per share, for aggregate consideration of $5-million (Canadian). In consideration of the private placement, Mawson West is also to pay to Galena a 3-per-cent brokerage fee satisfied through the issuance of a further 1,164,094 ordinary shares of Mawson West at the same price, with the balance to be paid in cash. The completion of the private placement is subject to a number of conditions, including receipt of exemptions sought by Mawson West from the Toronto Stock Exchange under a financial hardship application as described in Mawson West's press release of Dec. 11, 2014. Upon completion of the private placement, Galena would own 19.99 per cent of the outstanding ordinary shares of Mawson West. Assuming all necessary conditions to completion have been met, the private placement is expected to close on or about Dec. 17, 2014.
https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aMWE-2238057&symbol=MWE®ion=C 