New Issue: Arcadia raises $5 million from private placement of stock

By Sheri Kasprzak

New York, Dec. 1 - Arcadia Resources, Inc. said it has completed a private placement of shares for $5 million.

The company issued 22,222,222 shares at $0.225 each to European banks.

Based in Southfield, Mich., Arcadia provides home care services, medical and non-medical staffing and equipment.

Issuer:	Arcadia Resources, Inc.
Issue:	Stock
Amount:	$5 million
Shares:	22,222,222
Price:	$0.225
Warrants:	No
Settlement date:	Nov. 28
Stock price:	$2.71 at close Nov. 28

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