Mine supplier plans offering

Parts distributor Mining and Allied Supplies (Canada) says it has filed for an initial public offering of up to six million units consisting of one common share and one common share purchase warrant.

The $6-million issue is being offered through BBN James Capel and Research Capital and provides for a minimum offering of 750,000 units that the agents have agreed to purchase, subject to certain conditions.

The Toronto Stock Exchange has conditionally approved the listing of the parts distributor’s common shares and warrants.

If all the units are sold, Mining and Allied Supplies PLC (LSE) will own a 74.9% interest in the company.

Mining and Allied Supplies (Canada), with 33 branches operating from Quebec to Alberta, is a major distributor of bearings and power transmission parts to the Canadian resource industry. Proceeds of the financing will be used to expand the company’s current business operations into a national branch network and reduce its short-term debt.

Print

 

Republish this article

Be the first to comment on "Mine supplier plans offering"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close