Birch Mountain arranges $30-million debenture offering
2006-11-21 10:25 ET - News Release
Mr. Douglas Rowe reports
BIRCH MOUNTAIN PRICES OFFERING OF CONVERTIBLE DEBENTURES
Birch Mountain Resources Ltd. has signed an underwriting agreement today with a syndicate of underwriters, led by RBC Capital Markets, and includes Westwind Partners Inc. and Acumen Capital Finance Partners Ltd. (the underwriters), for a public offering of $30-million of convertible unsecured subordinated debentures. Birch Mountain has granted the underwriters an option (the overallotment option) to purchase up to an additional 15 per cent of the principal amount of debentures, exercisable in whole or in part at any time prior to close of business on Dec. 27, 2006. Should the overallotment option be fully exercised, the total gross proceeds of the offering would be approximately $34.5-million. A preliminary short-form prospectus, in connection with this offering, was filed on Nov. 20, 2006, with the securities commissions in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario. The offering is scheduled to close on or about Dec. 5, 2006.
stockwatch.com |
