By Sheri Kasprzak
New York, Sept. 18 - Network CN Inc. settled a $1,215,000 private placement with SYWG-Aizawa Chinese Equity Prospective for Listing Fund.
The investor purchased 2.7 million shares at $0.45 each, a 54% discount to the company's $0.98 closing stock price on Sept. 15.
Proceeds will be used for general corporate purposes.
Network CN, formerly Teda Travel Group Inc., is a travel and hospitality company focused on three- to five-star hotels in China. The company has headquarters in New York.
| Issuer: | Network CN Inc.
|
| Issue: | Stock
|
| Amount: | $1,215,000
|
| Shares: | 2.7 million
|
| Price: | $0.45
|
| Warrants: | No
|
| Investor: | SYWG-Aizawa Chinese Equity Prospective for Listing Fund
|
| Settlement date: | Sept. 15
|
| Stock symbol: | OTCBB: NWCN
|
| Stock price: | $0.98 at close Sept. 15
|
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