(December 20) – Winnipeg’s Rice Capital Management Plus Inc.has secured $2 million in new financing to fund corporate development and additional acquisitions. The $2 million investment from an unnamed financial institution is comprised of a $1 million convertible debenture and $1 million non-convertible debenture.

The debentures will pay 7% per annum, maturing in five years. The convertible debenture will be convertible to common shares at prices ranging from 80¢ to $1.20 per share.

Rice has not made any large acquisitions, but it has been actively pursuing small deals and partnering arrangements throughout Alberta, B.C. and Manitoba.
-IE Staff