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by Stockwatch Business Reporter
The TSX Venture Exchange lost 1.98 points to close at 602.50 Thursday. After the markets closed, Wade Nesmith's second capital pool shell, Creation Capital Corp. (CRN: halted), announced its completion of an $8.39-million private placement at 20 cents in connection with its qualifying transaction. For its QT, the shell is acquiring PT Biogas Holdings Ltd., a renewable natural gas company. Creation Capital and PT Biogas expect to close the acquisition tomorrow.
The acquisition price is 10.1 million pounds sterling, comprising between 1.2 million and four million pounds in cash, two million pounds worth of shares (specifically 17,418,000 shares), and the remainder as a promissory note. Creation Capital has nine million shares issued. On closing of the QT, its shareholders will hold nine million shares, PT Biogas's sole shareholder will hold 17,418,000 shares or 25.5 per cent, and the private placement subscribers will hold 41,965,225 shares.
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