Sherbrook SBK Sport Corp. Announces Changes to its Private Placement
03 Juni 2011 - 5:25PM
Marketwired
Sherbrook SBK Sport Corp. (TSX VENTURE: SBK) ("SBK" or the
"Corporation") announces changes to the terms of its
previously-announced private placement of 12% unsecured convertible
debentures (the "Debentures").
The maximum aggregate principal amount of the Debentures is now
set at $3 million. The principal amount of the Debentures will be
convertible into units of the Corporation at a price of $0.13 per
unit, each unit will be comprised of one common share and one-half
of a common share purchase warrant (the "Offering"). Each whole
warrant will entitle the holder thereof to acquire one additional
common share of the Corporation at a price of $0.25 for a period of
36 months following the closing date. The accrued interest payable
on the Debentures during the first year of there respective terms
will be paid in units of the Corporation at a price per unit equal
to the daily weighted average price of the common shares of the
Corporation on the TSX Venture Exchange (the "TSXV") the day before
the conversion date. The accrued interest payable on the Debentures
during the second and third year of there respective terms will be
payable in cash. The Debentures will be offered to accredited
investors in the provinces of Quebec, Ontario, British Columbia and
Alberta.
As previously announced, Notre-Dame Capital Inc. ("NDC") will
act as agent for the Offering on a best-efforts basis.
In connection with the Offering, the Corporation will pay a cash
commission to NDC in an amount equal to 8% of the gross proceeds of
the Offering. In addition, the Corporation will issue to NDC
non-transferable broker warrants to acquire a number of common
shares representing 8% of the number of common shares issuable
assuming conversion of all the debentures sold in the Offering.
Each broker warrant will entitle the holder to acquire one
additional common share of the Corporation at a price of $0.13 for
a period of 24 months from the date of closing.
The initial closing of the private placement is expected to take
place on or about June 30, 2011. The private placement is subject
to customary closing conditions, including the signing of an agency
agreement between the Corporation and NDC. The TSXV has
conditionally approved the Offering.
The securities to be issued pursuant to the Offering will be
subject to a four month restricted period. The net proceeds of the
Offering will be used for potential acquisitions, marketing
expenses and working capital purposes.
About Notre-Dame Capital Inc.
NDC is a specialty investment and merchant bank specializing on
the small cap and mid cap Canadian public companies. NDC is a
licensed exempt market dealer reporting to the AMF and licensed to
operate in most of the major provinces of Canada. The partners and
shareholders of NDC have been instrumental in financing several
hundred Canadian companies amounting to well over $5 Billion in
aggregate financings over the last 25 plus years. NDC is Canada's
leading dealer in Equity Lines and has recently introduced
"Flexible Capital™", which consists of a variety of innovative
financing tools for companies, founders, executives and Members of
the Boards alike.
About Sherbrook SBK Sport Corp.
SBK is a Canadian publicly traded company specializing in the
design and distribution of sporting goods and apparels. The
Corporation's current main focus is on the design, manufacturing
and distribution of hockey equipment including a variety of sticks,
skates and protective gear for both players and goalie.
IMPORTANT INFORMATION
Forward-looking statements contained in this press release
involve known and unknown risks, uncertainties and other factors
that may cause actual results, performance and achievements of SBK
to be materially different from any future results, performance or
achievements expressed or implied by the said forward-looking
statements. Words such as "anticipate," "believe," "estimate,"
"expect," "intend" and similar expressions, as they relate to the
Corporation or its management, identify forward-looking statements.
These statements are based on current expectations, estimates and
projections about the Corporation's business based, in part, on
assumptions made by management. These statements are not guarantees
of future performance and involve risks, uncertainties and
assumptions that are difficult to predict. Therefore, actual
outcomes and results may, and probably will, differ materially from
what is expressed or forecasted in such forward-looking statements
due to numerous factors, including those described above. In
addition, such statements could be affected by risks and
uncertainties related to the exploration for and development of
mineralized material, product demand, market and customer
acceptance, competition, pricing and development difficulties, as
well as general industry and market conditions and growth rates and
general economic conditions. Any forward-looking statements speak
only as of the date on which they are made, and SBK does not
undertake any obligation to update any forward-looking statement to
reflect events or circumstances after the date of this release.
Information on the SBK's website does not constitute a part of this
release.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release
Contacts: Sherbrook SBK Sport Corp. Georges Guilbault President
819-791-2066 gguilbault@sbkhockey.com www.sbkhockey.com/ Hilbroy
Advisory Inc. Jean-Francois Amyot, President 514-334-3131
info@hilbroyadvisory.com www.hilbroyadvisory.com/ Consultant:
Mergers & Acquisitions
Sherbrook Sbk Sport Corp (TSXV:SBK)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Sherbrook Sbk Sport Corp (TSXV:SBK)
Historical Stock Chart
Von Jul 2023 bis Jul 2024