By Devika Patel
Knoxville, Tenn., Oct. 20 - Grand Power Logistics Group Inc. announced it will conduct a C$1.7 million non-brokered private placement of stock.
The company will sell up to 8.5 million common shares at C$0.20 per share.
Proceeds will be used for working capital and expanding Grand Power's business activities in Hong Kong and China.
Based in Calgary, Alta., Grand Power operates principally through its Hong Kong-based subsidiary, Grand Power Express International Ltd., and provides air-freight forwarding and sea-freight services, customs brokerage, logistics, warehousing and distribution, as well as other value-added services.
| Issuer: | Grand Power Logistics Group Inc.
|
| Issue: | Common shares
|
| Amount: | C$1.7 million
|
| Shares: | 8.5 million
|
| Price: | C$0.20
|
| Warrants: | No
|
| Agents: | Non-brokered
|
| Pricing date: | Oct. 20
|
| Stock symbol: | TSX Venture: GPW
|
| Stock price: | C$0.10 at close Oct. 17
|
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