By Sheri Kasprzak
New York, Nov. 17 - Network CN Inc. has pocketed another $1.02 million from its previously announced private placement.
The company most recently sold 1.2 million shares at $0.85 each to a new shareholder in Hong Kong.
On Nov. 1, the company sold another 1.2 million shares, and on Oct. 24 Network CN issued 1.3 million shares at the same price.
Proceeds will be used for activities related to the company's proposed business in China as well as for general corporate purposes.
Hong Kong-based Network CN is a media network company focused on developing networks throughout China, including a hotel network.
Issuer: | Network CN Inc.
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Issue: | Stock
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Amount: | $1.02 million
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Shares: | 1.2 million
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Price: | $0.85
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Warrants: | No
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Settlement date: | Nov. 17
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Stock symbol: | OTCBB: NWCN
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Stock price: | $4.60 at close Nov. 17
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