AgriMarine increases private placement
VANCOUVER: AgriMarine Holdings, a leader in floating solid-wall containment technology and production for sustainable aquaculture, is recently announced that, due to strong institutional investor demand, the company has now increased the size of its non-brokered private placement announced 15 February 2012 (the "Offering") from a maximum of 25,000,000 units to a maximum of up to 50,000,000 units.
Each unit will still be issued at a price of US$0.20 per Unit, for total gross proceeds of up to US$10,000,000, and each unit will still be comprised of one common share in the capital of the Company and one-half of one common share purchase warrant, with each warrant entitling the holder thereof to purchase an additional common share at an exercise price of US$0.30 per warrant share for a period of two years from the date of issue.
The net proceeds of the offering will still be used by the company for working capital and general corporate purposes.
Finder's fees will continue to be payable in connection with any portion of the Offering in accordance with TSX Venture Exchange policies, and the Offering remains subject to prior acceptance by the TSX Venture Exchange.
