This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Aston Hill Financial to raise $3.6-million 2009-06-15 17:48 ET - News Release Mr. Eric Tremblay reports ASTON HILL ANNOUNCES BROKERED PRIVATE PLACEMENT FINANCING
Aston Hill Financial Inc. intends to undertake
a best-efforts brokered private placement of approximately 12 million units at an offering price of 30 cents per unit for gross proceeds
to the company of approximately $3.6-million. Each unit comprises one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to
purchase one common share for a period of 18 months following the closing date
at a price of 45 cents. An option exists entitling the agent (as defined below)
to purchase from the company additional units at the offering price equal, in
total, to up to 15 per cent of the total number of units sold pursuant to the
offering, at any time up to 5 p.m. (Toronto time) on the date which is two days
prior to the closing date, subject to regulatory approval.
Aston Hill is currently on pace to grow assets under advisory and
management (AUM) to the significant milestone of $1.0-billion by the end of
the second quarter as the unitholders of a series of existing funds have
approved a decision to merge their fund into one under the advisory of Aston
Hill. The merger of the funds is subject to numerous conditions precedent and
no assurance can be provided that such merger will actually be completed.
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