Sherbrook SBK Sport Corp. disclosed new terms of its pending private placement. The Quebec-based ice hockey company will now proceed with a private placement in equity of
up to 40,000,000 units of the corporation at a price of 10 cents per Unit.
Each Unit being comprised of one common share and one
share purchase warrant. Each warrant will entitle its
holder to acquire one common share at a price of 20 cents a share for a period of
24 months following the closing date. The Units will be offered to
accredited investors in the Provinces of Quebec, Ontario, British
Columbia and Alberta.
The net proceeds of the offering will be used
for potential acquisitions, marketing expenses and working capital
purposes.
The securities issued pursuant to the offering
will be subject to a four month hold period.
The offering is being made by
Notre-Dame Capital Inc. acting as exempt dealer on a reasonable
effort basis and is expected to close on or about September 20, 2011. SBK will pay to NDC a cash commission of 8 percent of the gross
proceeds of the Offering and will issue non-transferable broker warrants
which will entitle NDC to acquire a number of common shares equal to 8 percent
of the number of common shares comprised in the Units and sold in the
Offering. The broker warrants will be exercisable at 10 cents per common
share for a period of 24 months from the closing date.
The offering is subject to certain conditions including the receipt of
all necessary approvals.
