TransactionsCassels Brock Acts For The Underwriters As Channel Resources Announces Closing Of $7 Million Bought Deal Private PlacementPublished: 06/22/2011 By Chad Accursi, Nancy Choi, Myroslav Chwaluk On May 6, 2011, Channel Resources Ltd. (“Channel”) announced that it completed its previously announced “bought deal” private placement of 20,590,000 units for gross proceeds of $7,000,600, including 5,880,000 units issued pursuant to the exercise of the underwriter’s over-allotment option. The Units were sold pursuant to an underwriting agreement entered into between Wellington West Capital Markets Inc. (the “Underwriter”) and the Company. The Units were issued at a price of $0.34 per Unit, each Unit consisting of one common share in the capital of the Company (a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one Common Share at a price of $0.50 for a period of 24 months from the date hereof. Cassels Brock acted for the Underwriter with a team consisting of Chad Accursi (Securities & Mining), Nancy Choi (Securities & Mining) and Myroslav Chwaluk (Securities & Mining). |