By Sheri Kasprzak
New York, Oct. 20 - Moliris Corp. said it has concluded a private placement for $1,697,500.
The company issued 970,000 shares at $1.75 each to three accredited investors.
The investors also received warrants for 485,000 shares, exercisable at $2.30 each through Oct. 15, 2007.
The shares sold in the offering represent less than 5% of the company's total outstanding shares.
In other news, Moliris reported that Clyde Parks has resigned as director, president, principal financial officer and principal executive officer of the company. He has been replaced as director by W. Gordon Blankstein.
Based in Dallas, Moliris is a telecommunications company focused on voice over internet protocol.
| Issuer: | Moliris Corp.
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| Issue: | Stock
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| Amount: | $1,697,500
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| Shares: | 970,000
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| Price: | $1.75
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| Warrants: | For 485,000 shares
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| Warrant strike price: | $2.30
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| Warrant expiration: | Oct. 15, 2007
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| Placement agent: | Non-brokered
|
| Settlement date: | Oct. 14
|
| Stock price: | $2.51 at close Oct. 14
|
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