Published on 6/28/2010 in the Prospect News PIPE Daily.
New Issue: Infrastructure Materials seals $1.6 million private placement of stock
By Devika Patel
Knoxville, Tenn., June 28 - Infrastructure Materials Corp. said it completed a $1.6 million non-brokered private placement of stock.
The company sold 6,973,180 common shares at $0.23 per share.
Proceeds will be used to fund the Blue Nose plan of operations drill program scheduled for early summer, as well as for general corporate purposes.
The limestone mining company is based in Reno, Nev.
| Issuer: | Infrastructure Materials Corp.
|
| Issue: | Common shares
|
| Amount: | $1,603,831
|
| Shares: | 6,973,180
|
| Price: | $0.23
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Settlement date: | June 25
|
| Stock symbol: | OTCBB: IFAM
|
| Stock price: | C$0.31 at close June 25
|
| Market capitalization: | C$19 million
|
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