- The Limestone Boat Company (BOAT) has announced a $5.0 million non-brokered private placement of unsecured, convertible debentures
- The debentures will be priced at $1,000 and will mature 3 years from their date of issuance
- The debentures will bear interest at a rate of 10 per cent per annum and are convertible to common shares
- The Limestone Boat Company Limited is the builder of the Limestone, Aquasport and Boca Bay brands
- The Limestone Boat Company (BOAT) opened trading at C$0.18 per share
The Limestone Boat Company (BOAT) has announced a $5.0 million non-brokered private placement of unsecured, convertible debentures.
The debentures will be priced at $1,000 and will mature 3 years from their date of issuance.
The debentures will bear interest at a rate of 10 per cent per annum, payable annually in arrears. The debentures will be convertible at any time at the option of the holder into common shares of BOAT at a conversion price of $0.24 per share.
The debentures are subject to an acceleration clause.
The company will pay qualified brokers a cash commission and compensation options.
The Limestone Boat Company Limited is the builder of the Limestone, Aquasport and Boca Bay brands.
The Limestone Boat Company (BOAT) opened trading at C$0.18 per share.