By Devika Patel
Knoxville, Tenn., Oct. 15 - Poly-Pacific International Inc. said it plans a C$1 million non-brokered private placement of stock.
The company will sell 33,333,333 common shares at C$0.03 apiece.
Settlement is expected Nov. 30.
Proceeds will be used to assist in financing certain of the company's start up costs in connection with its planned joint venture with CREEnergy Oil and Gas Inc. and for general working capital purposes.
Poly-Pacific is a Nanaimo, B.C.-based recycling company.
| Issuer: | Poly-Pacific International Inc.
|
| Issue: | Common shares
|
| Amount: | C$1 million
|
| Shares: | 33,333,333
|
| Price: | C$0.03
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 15
|
| Settlement date: | Nov. 30
|
| Stock symbol: | TSX Venture: PMB
|
| Stock price: | C$0.02 at close Oct. 14
|
| Market capitalization: | C$1.99 million
|
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