By Sheri Kasprzak
New York, Jan. 12 - Yangtze Telecom Corp. said it has settled a private placement for C$2.7 million.
The company sold to accredited investors 15 million shares at C$0.18 each on a non-brokered basis.
Proceeds will be used to develop the company's businesses and to make potential acquisitions.
Vancouver, B.C.-based Yangtze develops business and consumer applications using internet and wireless data communications technologies.
| Issuer: | Yangtze Telecom Corp.
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| Issue: | Stock
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| Amount: | C$2.7 million
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| Shares: | 15 million
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| Price: | C$0.18
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| Warrants: | No
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| Placement agent: | Non-brokered
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| Settlement date: | Jan. 12
|
| Stock symbol: | Toronto: SMS
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| Stock price: | C$0.16 at close Jan. 12
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