Aydon Income Properties Closes Private Placements
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 01/27/17 -- AYDON INCOME PROPERTIES, INC. (CSE: AYD)(CSE: AYD.CN) ("Aydon") announces that it has closed private placement financings for a total consideration of CA$135,500 and Convertible Secured Subordinate Debentures for gross proceeds of CA$547,000.
Aydon has closed a private placement for proceeds of C$135,500 through the issuance of 1,355,000 Shares at a price of $0.10 per share and 1,355,000 share purchase warrants. Each Warrant is non-transferrable and entitles the holder to purchase an additional Aydon common share for $0.15 in the first year and $0.20 in the second year. All unexercised warrants shall expire after a term of 2 years.
Additionally, Aydon has agreed to issue 10% Convertible Secured Subordinate Debentures for gross proceeds of CA$547,000. The Debentures will bear annual simple interest of 10% and will mature on December 10, 2018. The Subscriber shall have the right to convert the debentures into common shares at a price of $0.30 per common share within the first year and at a price of $0.50 per share until December 3, 2018. Subject to the applicable securities laws and restrictions on transfer, the Holder shall also have the right to exchange the Debentures into the Units of the AIP Limited Partnership at a price paid for these units by Aydon plus a 10% premium. The obligations of Aydon under the Debentures will be secured by a General Security Agreement in respect of all present and after acquired property of Aydon including the LP Limited Partnership Units. Aydon reserves the right to subordinate the Debentures to any other senior security issued in its favor to any financial entity at the sole discretion of Aydon.
Four insiders of Aydon participated in the private placement by subscribing for an aggregate of 850,000 Units. The proceeds of the private placement financings will be allocated to general administrative working capital.
In connection with the private placements, the Company will pay finders'' fees totaling C$6,050.
The private placement financings are subject to review by the Canadian Securities Exchange and any securities issued thereunder shall be subject to a statutory four-month hold period under applicable Securities Laws.
Aydon entered into a loan agreement with 541670B.C. Ltd. for US$33,000 at an interest rate of 12% per annum compounded monthly plus an application fee of CA $2,500. In further consideration for this loan, Aydon issued 100,000 shares at a deemed price of CA$0.10. Aydon has executed a General Security Agreement in favor of 541670 B.C. Ltd., which includes a fixed charge on the equity of the various General and Limited Partnerships and Joint ventures of Aydon Income Properties Inc.
Aydon Income Properties Inc. is a Real Estate Investment Company acquiring income producing real estate assets in select areas of the United States and Canada.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
ON BEHALF OF THE BOARD
Vid Wadhwani, Director
Statements in this release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the company can fulfill such forward-looking statements and the company undertakes no obligation to update such statements. Forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the company, some of which are beyond the company''s control.
Contacts:
Aydon Income Properties Inc.
Vid Wadhwani
Director
+1-855-322-7771 or +1-604-235-1992
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 27.01.2017 - 16:48 Uhr
Sprache: Deutsch
News-ID 1483163
Anzahl Zeichen: 2046
contact information:
Contact person:
Town:
VANCOUVER, BRITISH COLUMBIA
Phone:
Kategorie:
Venture Capital
Typ of Press Release:
type of sending:
Date of sending:
Anmerkungen:
Diese Pressemitteilung wurde bisher 239 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Aydon Income Properties Closes Private Placements
"
steht unter der journalistisch-redaktionellen Verantwortung von
Aydon Income Properties, Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
