By Sheri Kasprzak
New York, March 6 - Dragon International Group Corp. finished a private placement for $1.5 million.
The company sold 16,666,667 units at $0.09 each.
The units consist of one class A common share, one warrant for a class A common share and one warrant for half a share of class B common stock.
The class A warrants are exercisable at $0.125 each for five years and the whole class B warrants at $0.15 each for five years.
Proceeds will be used for business expansion.
Based in Ningbo, China, Dragon International manufactures and distributes specialty paper products and packaging materials.
| Issuer: | Dragon International Group Corp.
|
| Issue: | Units of one class A share, one warrant for one class A share, one warrant for one half of a share of class B stock
|
| Amount: | $1.5 million
|
| Units: | 16,666,667
|
| Price: | $0.09
|
| Warrants: | One warrant for a class A share; one warrant for half a share of class B stock
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.125 for class A warrants; $0.15 for class B
|
| Settlement date: | March 6
|
| Stock symbol: | OTCBB: DRGG
|
| Stock price: | $0.09 at close March 6
|
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