November 07, 2007
VMS Ventures Inc. (TSX-Venture: VMS) completed a private placement financing for gross proceeds of $19,500,000 with a syndicate of agents led by GMP Securities L.P. and including Evergreen Capital Partners Inc., Jennings Capital Inc. and First Canadian Capital Markets Ltd. Pursuant to the offering, the agents arranged for the purchase of 13,000,000 subscription receipts, of which 8,000,000 are exchangeable without further consideration for units and 5,000,000 are exchangeable without further consideration for “flow through” common shares at price of $1.50 per subscription receipt. Each unit is comprised of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of $2.25 until November 7, 2009. Wildeboer Dellelce LLP acted for the agents in connection with the offering with a team that included Vaughn MacLellan, Sanjeev Patel, Shabir Amlani, Michael Antonik (corporate/securities) and Kevin Fritz (tax).