| Home : February 2011 : February 08, 2011 News : Melcor Developments Ltd. Announces Completion of $40,000,000 Private Placement of 6.25% Convertible Unsecured Subordinated Debentures |
Melcor Developments Ltd. Announces Completion of $40,000,000 Private Placement of 6.25% Convertible Unsecured Subordinated Debentures |
February 08, 2011
EDMONTON, ALBERTA--(Marketwire - Feb. 8, 2011) - Melcor Developments Ltd. ("Melcor" or the "Company") (TSX:MRD) is pleased to announce the successful closing of the issue and sale of $40,000,000 aggregate principal amount of 6.25% convertible unsecured subordinated debentures ("Debentures"). The Debentures were issued to a group of arm's length and non-arm's length accredited investors by way of private placement (the "Private Placement"), and, as previously announced on January 21, 2011, the Company intends to use the net proceeds from the Private Placement for general corporate purposes.
http://www.marketwire.com/mw/release.do?id=1392649&sourceType=3
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