Business News • MarketWire • Walmer Capital Corp. Announces Closing of Private Placement Financing and Corporate Update |
Walmer Capital Corp. Announces Closing of Private Placement Financing and Corporate Update |
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Walmer Capital Corp. Announces Closing of Private Placement Financing and Corporate Update
CALGARY, ALBERTA--(Marketwired - Dec. 7, 2016) - Jay Richardson, Chief Executive Officer and Chairman of Walmer Capital Corp. (NEX:WAL.H) (the "Company" or "Walmer"), a capital pool company, is pleased to announce that they have completed the first tranche of its previously announced non-brokered private placement financing (the "Financing"). Pursuant to the Financing, Walmer issued 10,250,000 subscription receipts (the "Subscription Receipts") at a price of $0.05 per Subscription Receipt for gross proceeds of $512,500. Each Subscription Receipt entitles the holder thereof, upon conversion in accordance with the provisions of the subscription receipt, to acquire one unit (a "Unit") of the Company for no additional consideration. The conversion of the Subscription Receipts into Units is conditional upon the satisfaction of various conditions including the satisfaction of conditions necessary for the completion of the Qualifying Transaction of the Company. Each Unit will be comprised of one common share of the Company (each, a "Share") and one half of one common share purchase warrant (each whole a "Warrant") which is exercisable into one Share of the Company at a price of $0.10 for a period of 18 months from closing.
View More : http://www.marketwired.com/mw/release.do?id=2181661&sourceType=3
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