Deal raises proceeds which will be added to company's working capital
By Devika Patel
Knoxville, Tenn., Dec. 3 - Kaiyue International, Inc. said it has arranged a non-brokered private placement of stock. The deal will raise C$1.5 million.
The company will sell 10 million common shares at C$0.15 each. The price per share is a 6.25% premium to C$0.16, the Dec. 2 closing share price.
Proceeds will be added to the company's working capital.
Kaiyue is a Calgary, Alta.-based, capital pool company.
| Issuer: | Kaiyue International, Inc.
|
| Issue: | Common stock
|
| Amount: | C$1.5 million
|
| Shares: | 10 million
|
| Price: | C$0.15
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 3
|
| Stock symbol: | TSX Venture: KYU.P
|
| Stock price: | C$0.16 at close Dec. 2
|
| Market capitalization: | C$668,800
|
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