Mr. Andrew Clark reports
PARK LAWN CORPORATION ANNOUNCES CLOSING OF $6,507,500 OFFERING OF COMMON SHARES
Park Lawn Corp. has closed its previously announced offering of 685,000 common shares of the company at a price of $9.50 per common share for gross proceeds of $6,507,500. The offering was conducted on a bought-deal basis by Mackie Research Capital Corp. and GMP Securities LP, acting as co-lead underwriters.
The company has granted the underwriters an overallotment option exercisable at any time up to the date that is 30 days from the date of closing of the offering to offer for sale up to an additional 102,750 common shares at a price of $9.50 per common share for additional gross proceeds of up to $976,125 on the same terms and conditions as the offering.
The net proceeds from the offering are expected to be used to finance the completion of the mausoleum addition at the Westminster Cemetery, Mausoleum and Cremation Centre, for future acquisitions, and for general business purposes.
We seek Safe Harbor.
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