An institutional investor has bought two million shares of Marshall Minerals (ASE) for $3 million. The holder of Marshall’s $3-million convertible debentures will, at the appropriate time, convert the debentures into 1.5 million common shares.
In addition, Marshall has accepted for cancellation about 3.4 million common shares from an institutional investor.
All these transactions will improve the company’s financial position while leaving virtually unchanged its number of issued shares. Marshall did not name any of the investors involved.
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