By Sheri Kasprzak
New York, April 18 - International Hi-Tech Industries Inc. has completed a C$4.2 million private placement of units.
The company sold 7 million units at C$0.60 each on a non-brokered basis.
The units are comprised of one share and one warrant. Each warrant is exercisable at C$0.80 for two years.
Based in Vancouver, B.C., International Hi-Tech is a construction materials production company.
| Issuer: | International Hi-Tech Industries Inc.
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| Issue: | Units of one share and one warrant
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| Amount: | C$4.2 million
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| Units: | 7 million
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| Price: | C$0.60
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.80
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| Placement agent: | Non-brokered
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| Settlement date: | April 17
|
| Stock symbol: | TSX Venture: IHI
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| Stock price: | C$0.79 at close April 17
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