Business News • MarketWire • Brookfield Technology Fund Increases Investment in IPICO Inc. |
Brookfield Technology Fund Increases Investment in IPICO Inc. |
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Brookfield Technology Fund Increases Investment in IPICO Inc.
TORONTO, ONTARIO--(Marketwire - June 30, 2010) - Brookfield Technology Fund ("BTF") announced that it has agreed to acquire, by way of private placement, up to $2.0 million principal amount of 12% convertible Series C secured debentures due September 30, 2012 of IPICO Inc. (TSX VENTURE:RFD) ("IPICO"), acquired in a number of tranches, and warrants for the purchase of up to 20 million common shares of IPICO granted pro rata to each tranche. BTF has today completed the purchase of $0.5 million principal amount of such debentures, with another $0.5 million permitted without shareholder approval. The purchase of the remaining debentures and the warrants and related transactions (including the reduction of the conversion price of 5.0 million Class A Preferred Shares of IPICO held by BTF to $0.10) are subject to shareholder approval and final TSX Venture Exchange approval. The principal amount of the debentur
View More : http://www.marketwire.com/mw/release.do?id=1284553&sourceType=3
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