McCoy cancels C$10 million private placement

By Sheri Kasprzak

New York, Aug. 24 - McCoy Corp. has terminated its previously announced C$10 million private placement.

The company had intended to sell special warrants exchangeable on a one-for-one basis for common stock.

The pricing terms of the offering were never revealed, but the deal was first announced June 27.

"The corporation arranged alternate financing to fund the purchase of Inotec Coatings and Hydraulics Inc.," said a statement from the company released Thursday afternoon.

McCoy, based in Edmonton, Alta., is a truck and trailer products and services, manufacturing and oilfield products manufacturing company.

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