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In Brief: Harry Winston's Private Sale... Totes Buys Company...

Canada's Harry Winston Diamond Corp. said on Monday it would sell 3 million common shares at $25 a share in a private placement.

financial/news
- HARRY WINSTON'S PRIVATE SALE: Canada's Harry Winston Diamond Corp. said on Monday it would sell 3 million common shares at $25 a share in a private placement. Amounts have been converted to U.S. dollars at average exchange rates. The transaction, necessary for the company to pursue a new credit facility, will help in part to fund the firm's underground mine plan at the Diavik Diamond Mines Inc., which is set to begin operations next year. It is expected that net proceeds will be in the range of $75 million, and the transaction will bring the total outstanding shares of the company to 61,372,091 million, representing a 5 percent dilution. The deal is expected to close no later than Thursday.

-TOTES BUYS COMPANY:
Totes Isotoner Corp. has acquired Northern Cap Holdings Inc., a manufacturer of branded and private label headwear and gloves for men, women and children. Totes, the maker of rain gear and cold-weather accessories, is owned by MidOcean Partners, a private equity firm. Northern Cap, which does business as Northern Cap & Glove, sells its products through a variety of retail channels, including mass merchants, national chains, catalogue and direct marketers, specialty retailers, branded apparel companies and department stores. The company has licenses to market headwear, gloves and scarves under the Dockers, GoreTex and Karen Neuburger brand names.
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