Lorne Park Capital Partners to close non-convertible and unsecured debenture offering for up to $2M

Lorne Park Capital Partners announces $2M financing

Oakville, ON (pcJ News Briefs) – Lorne Park Capital Partners Inc. (TSX-V: LPC) intends to close a non-brokered private placement offering of non-convertible and unsecured debentures in aggregate principal amount of up to $2 million.

The debentures will be issued in denominations of $1,000, subject to a minimum subscription of $10,000. The debentures will bear an interest at a fixed rate of 8% per annum, which will be calculated from their date of issue to be paid semi-annually in arrears, and will have a maturity date of five years.

Lorne Park Capital Partners proposes to issue to each debenture subscriber 250 common share purchase warrants for each $1,000 principal amount of the debenture, up to a maximum aggregate of 500,000 warrants. Each warrant will entitle a debenture holder purchase one common share at an exercise price of $0.50 per common share for a period of one year from the closing Date.

Proceeds will be used: (a) to fund the company’s growth initiatives, including investments in investment managers and the development of its wealth management distribution platform; and (b) for general working capital purposes.

Lorne Park Capital Partners Inc. was created to bring together boutique investment management and wealth advisory firms in order to deliver robust, cost effective investment solutions to affluent investors, foundations, estates and trusts.

photo credit: Lorne Park Capital Partners

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