May 15, 2007
ExelTech Aerospace Inc. (TSXV:XLT), a commercial airframe maintenance, repair, and overhaul MRO vendor, closed a $14,400,000 Bought Deal Private Placement with a syndicate of underwriters led by GMP Securities L.P. and including Dundee Securities Corporation and Versant Partners Inc., pursuant to which the underwriters purchased from the Corporation 40,000,000 units on a "bought deal" basis at a price of $0.30 per unit for gross proceeds of $12,000,000. The underwriters exercised, in full, the option granted to them to arrange for the sale of up to an additional 8,000,000 units for additional gross proceeds of $2,400,000.
Wildeboer Dellelce LLP acted on behalf of the Underwriters in connection with the financing, with a team consisting of Robert Fonn, Lisa Cunningham and Joanne Sanci (corporate/securities).