By Sheri Kasprzak
New York, March 1 - HAL Concepts Ltd. said it has negotiated a private placement for C$9 million.
The company intends to sell 45 million shares at C$0.20 each.
Proceeds will be used for capital requirements and for general corporate purposes.
On Wednesday, the company also announced it sustained a net loss of C$59,000 for the quarter ended Dec. 31, 2005, compared with a net loss of C$79,000 for the same quarter in 2004.
The company used a portion of its cash during the quarter to redeem 100,000 in deferred preferred stock plus dividends.
Based in Toronto, HAL is a real estate development company.
| Issuer: | HAL Concepts Ltd.
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| Issue: | Stock
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| Amount: | C$9 million
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| Shares: | 45 million
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| Price: | C$0.20
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| Warrants: | No
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| Pricing date: | March 1
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| Stock symbol: | TSX Ventures: HHC
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| Stock price: | C$0.175 at close March 1
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