TORONTO, Jan. 17, 2014 /PRNewswire/ - Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today announced that it has closed a private placement with senior search professionals, officers and directors of the Corporation for the purchase of common shares of the Corporation.
Under the terms of the private placement, the Corporation issued 3,934,647 common shares at a price of $0.85 per share, raising $3,344,450 in cash. The purchase price was determined on the basis of the 10 trading day weighted average trading price of the common shares on the TSX for the 10 trading days ended December 2nd, 2013 following release of the Corporation's year-end results. The common shares issued pursuant to the private placement are subject to a hold period expiring on January 17th, 2015.
As previously announced on December 23, 2013, the capital raised will be used to make investments in growing the business, with potential uses including new locations, additions to the partner ranks, and flexibility for strategic opportunities as they arise.
About Caldwell Partners
Caldwell Partners is one of North America's premier providers of executive search and has been for more than 40 years. As one of the region's most trusted advisors in executive search, the firm has a sterling reputation built on successful searches for boards, chief and senior executives, and selected functional experts.
With offices and partners in Vancouver, San Francisco, Los Angeles, Dallas, Calgary, Atlanta, Toronto, Stamford, New York City, and a strategic presence in London and Hong Kong, the firm takes pride in delivering an unmatched level of service and expertise to its clients.
Caldwell Partners' Common shares are listed on The Toronto Stock Exchange (TSX: CWL). Please visit our website at www.caldwellpartners.com for further information.
Forward-looking statements in this document are based on current expectations that are subject to significant risks and uncertainties. Actual results might differ materially due to various factors such as the competitive nature of the executive search industry, the ability of the company to execute its growth strategies, the performance of the Canadian domestic and international economies, and the company's ability to retain key personnel. The Caldwell Partners assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.
SOURCE The Caldwell Partners International Inc.