Edmonton-based Nortek Energy has completed the issuance of share certificates to Roycal & Co. for a series of non-voting, non-dividend-bearing convertible preferred shares, totaling about $7.36 million.
These shares, while carrying no firm conversion date, are convertible to Nortek common shares at $1 per share. The proceeds of the issue have been used to retire an equivalent amount of bank debt.
The company says it is pursuing several diversification opportunities in “leading edge technology” manufacturing, transportation and precious metal mining.
Be the first to comment on "Nortek completes share issuance"