Orbite Aluminae Inc (TSX:ORT) announced a brokered private placement of 1,000 units at CAD 5,000 per unit for gross proceeds of CAD 5,000,000 on December 14, 2012. Each unit consists of 1,156 flow-through class A shares at CAD 3.25 per share and 478 non flow through shares at CAD 2.60 per share. As part of the transaction, Euro Pacific Canada Inc. will serve as lead agent and sole bookrunner to the company. The units will be subject to a four-month hold-period and the ... transaction is expected to close by December 21, 2012. The completion of the transaction is subject to the satisfaction of certain conditions, including approval by the Toronto stock exchange. The securities will be issued pursuant to Regulation D.
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Orbite Aluminae Inc (TSX:ORT) announced a brokered private placement of convertible debentures for gross proceeds of CAD 20,000,000 on November 30, 2012. The convertible debentures bear interest at a rate of 8% per annum, calculated from their date of issue, to be paid quarterly in arrears, and will mature on December 13, 2017. The debentures are convertible, in whole at the option of the holder at any time prior to the maturity date into class A shares of the company ... at a conversion price of CAD 3.50 per common share. As a part of the transaction, Euro Pacific Canada Inc. will serve as the lead agent and sole book-runner alongside a syndicate that includes Mackie Research Capital Corporation and Roth Capital Partners LLC. The company has also granted an over-allotment option of additional CAD 5,000,000. The transaction is expected to close by December 13, 2012 and is subject to the satisfaction of certain conditions, including approval by the Toronto Stock Exchange.
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