New Issue: Hong Kong's Artificial Life settles $6.45 million placement of stock

By Devika Patel

Knoxville, Tenn., Oct. 27 - Artificial Life Inc. settled a $6.45 million private placement of stock on Oct. 23, according to an 8-K filed Tuesday with the Securities and Exchange Commission.

The company sold 6,447,491 common shares to 3M Co.

Hong Kong-based Artificial Life develops applications, such as games for mobile phones.

Issuer:	Artificial Life Inc.
Issue:	Common stock
Amount:	$6,447,491
Shares:	6,447,491
Warrants:	No
Investor:	3M Co.
Settlement date:	Oct. 23
Stock symbol:	OTCBB: ALIF
Stock price:	$0.92 at close Oct. 23
Market capitalization:	$56.3 million

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