By Sheri Kasprzak
New York, Sept. 15 - Intermost Corp. said it raised $2 million from a private placement with four institutional investors.
The company sold 40 million shares at $0.05 each to Piaster Assets, Inc., Alredo Properties Ltd., Original Group Holdings Ltd. and Magnate Trading Services Ltd.
The proceeds will be used for working capital.
Based in Shenzhen, China, Intermost is an internet, intranet and business services provider serving customers in China.
| Issuer: | Intermost Corp.
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| Issue: | Stock
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| Amount: | $2 million
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| Shares: | 40 million
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| Price: | $0.05
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| Warrants: | No
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| Investors: | Piaster Assets, Inc., Alredo Properties Ltd., Original Group Holdings Ltd. and Magnate Trading Services Ltd.
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| Settlement date: | Sept. 9
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| Stock price: | $0.09 at close Sept. 9
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