By Sheri Kasprzak
Atlanta, Feb. 8 - Arcadia Resources Inc. said it has closed a portion of its $5 million private placement for $3.5 million.
The company sold 3,888,888 shares at $0.90 each.
The proceeds from the offering will be used for acquisitions and new business ventures, the company said.
Based in Southfield, Mich., Arcadia provides temporary staffing, home care, mail order pharmacy and home medical equipment.
| Issuer: | Arcadia Resources Inc.
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| Issue: | Stock
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| Amount: | $3.5 million
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| Shares: | 3,888,888
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| Price: | $0.90
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| Warrants: | No
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| Announcement date: | Feb. 2
|
| Stock price: | $1.22 at close Feb. 2
|
| Stock price: | $1.25 at close Feb. 8
|
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