|
TORONTO, ONTARIO--(Marketwired - Nov. 22, 2016) - MBAC Fertilizer Corp. (TSX VENTURE:MBC) (MBAC or the Company) is pleased to announce a non-brokered private placement (the Private Placement) to Zaff LLC (Zaff) of 5,374,800 shares of the Company (the Shares) at an offering price of $2.50 per Share, for aggregate proceeds of $13,437,000. The net proceeds of the Private Placement shall be used primarily for the re-commissioning and ramp-up of the Company's Itafós Arraias SSP Operations and working capital purposes. Completion of the Private Placement is subject to the approval of the TSX Venture Exchange (the TSXV). Closing of the Private Placement is anticipated to occur on or about November 28, 2016. |
