By Sheri Kasprzak
Atlanta, Dec. 17 - International Amateur Sports Championships Inc. said Friday it has approved a private placement of up to $2 million for subsidiary Galtech Semiconductor Materials Corp.
The offering will include 16 million shares at $0.125 each.
The private placement memorandum has not yet been completed on the offering, but the deal should be available to investors "in the very near future," according to a form 8-K from the Securities and Exchange Commission.
Galtech, based in Orem, Utah, researches and develops semiconductor materials.
| Issuer: | International Amateur Sports Championships Inc. (for Galtech Semiconductor Materials Corp.)
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| Issue: | Stock
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| Amount: | $2 million
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| Shares: | 16 million
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| Price: | $0.125
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| Warrants: | No
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| Announcement date: | Dec. 16
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| Stock price: | $0.025 at close Dec. 16
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