By Sheri Kasprzak
New York, Jan. 4 - CompuPrint, Inc. has completed an initial tranche of a $50 million private placement.
The company intends to ultimately sell 50 million shares to Esterna Ltd. in the non-brokered offering.
In the first tranche, the company sold 500,000 shares.
The rest of the deal is expected to close by March 31.
Proceeds will be used for working capital.
New York-based CompuPrint, through subsidiary Terra Insight Corp., provides mapping, surveying and analytical services to natural resources exploration and drilling companies.
| Issuer: | CompuPrint, Inc.
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| Issue: | Stock
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| Amount: | $50 million
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| Shares: | 50 million
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| Price: | $1.00
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| Warrants: | No
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| Investor: | Esterna Ltd.
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| Announcement date: | Jan. 4
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| Settlement date: | March 31
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| Stock price: | $0.45 at close Jan. 3
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