GREY:ALGWF - Post by User
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Greyishon May 16, 2017 11:32am
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Post# 26249815
NEWS OUT!!! ALUMINA PARTNERS & ACG 5 - 10 MILLION $$
NEWS OUT!!! ALUMINA PARTNERS & ACG 5 - 10 MILLION $$"The Company has executed on the term sheet for a financing commitment offered by Alumina Partners (Ontario) Ltd., a subsidiary of Alumina Partners LLC, a New York-based private equity firm, for a $5 Million equity facility in a series of private placements, with an option to extend the commitment up to $10 million.
Pursuant to the terms of the offerings, Alumina Partners will commit to purchasing up to $5-million worth of units of the Company in a series of private placements, consisting of one common share and one common share purchase warrant, at discounts of 20 per cent of the market price of the shares, with each offering occurring at the option of the company, throughout the 24-month term of the agreement. The exercise price of the warrants will be at a 50-per-cent premium over the market price of the shares."