April 3, 2018 / 12:20 PM / 4 months ago

BRIEF-UrtheCast Announces CAD$35 Mln Brokered Private Placement Of Subscription Receipts

April 3 (Reuters) - UrtheCast Corp:

* URTHECAST ANNOUNCES CAD$35 MILLION BROKERED PRIVATE PLACEMENT OF SUBSCRIPTION RECEIPTS AS SUBORDINATED CAPITAL FOR THE US$142 MILLION SENIOR SECURED FACILITY

* ‍BROKERED PRIVATE PLACEMENT OF UP TO C$35 MILLION IN SUBSCRIPTION RECEIPTS AT PURCHASE PRICE OF CAD$0.35 PER SUBSCRIPTION RECEIPT​

* IN ‍ADVANCED NEGOTIATIONS WITH A CANADIAN PRIVATE EQUITY GROUP TO PROVIDE A CONDITIONAL BACKSTOP COMMITMENT

* CONDITIONAL BACKSTOP COMMITMENT WILL POTENTIALLY PROVIDE ADDITIONAL FINANCING OF UP TO $25 MILLION OF SUBORDINATED CAPITAL​ Source text for Eikon: Further company coverage:

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