Parkit Enterprise Inc【PKT】株式ニュース

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Forex

Parkit Announces $25 Million Bought Deal Financing and $5 Million Concurrent Non-Brokered Private Placement
March 01 2021 - 12:12PM
PR Newswire (Canada)
/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./

TORONTO, March 1, 2021 /CNW/ - Parkit Enterprise Inc. (TSXV: PKT) ("Parkit" or the "Company"), an industrial real estate growth vehicle and parking platform, is pleased to announce that it has entered into an agreement with Stifel GMP and Scotiabank as joint bookrunners and co-lead underwriters (the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a bought deal private placement basis, 16,670,000 common shares ("Common Shares") of the Company at a price of $1.50 per Common Share (the "Offering Price"), for aggregate gross proceeds of $25,005,000 (the "Offering").

The Underwriters have also been granted an option, exercisable in whole or in part any time up to 48 hours prior to the closing date of the Offering, to purchase for resale up to an additional 3,340,000 Common Shares at the Offering Price, for aggregate gross proceeds to the Company of $30,015,000 in the event the Underwriters exercise this option in full.

Concurrent with the Offering, the Company intends to issue and sell additional Common Shares for additional gross proceeds of approximately $5,000,000 on the same terms as the Offering to certain insiders and subscribers designated by the Company. This concurrent non-brokered private placement is expected to be settled via cash subscription, asset contribution, or a combination thereof.

The Company plans to use the net proceeds from the Offering primarily to fund future acquisitions of strategically located industrial properties across key markets in Canada, with a focus on the GTA+, Ottawa and Montreal. The Offering is scheduled to close on or about March 18, 2021 (the "Closing Date") and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.

Steven Scott, Chairman, commented: "We are pleased to see the level of institutional support for our industrial real estate growth strategy. Our acquisition plans are ambitious and our pipeline continues to grow. This additional equity financing will ensure the Company is well positioned to execute its strategy in 2021 and beyond."

The Common Shares will be subject to a hold period under applicable Canadian securities laws expiring on the date that is four months and one day following the Closing Date.

The Common Shares will be offered on a private placement basis in all provinces and territories of Canada. The Common Shares will also be offered in the United States on a private placement basis pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the "1933 Act"), and in such other jurisdictions outside of Canada and the United States, as mutually agreed by the Company and the Underwriters, in each case in accordance with all applicable laws.

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