Aston BayHoldings Ltd. said July 11 that it has received conditionalacceptance from the TSX Venture Exchange for a nonbrokered private placementwith two investment funds managed by Mackenzie Investments.
The said funds collectively subscribed for 4 million commonshares at 45 Canadian cents each for gross proceeds of C$1.8 million.
The offering is scheduled to close July 11.
At the close of the offering, four funds managed byMackenzie will collectively hold 8.9 million shares of Aston Bay, orapproximately 15.1% of the company.
Proceeds will be used for general corporate purposes.