By Sheri Kasprzak
New York, Sept. 22 - Landstar Properties Inc. said it has arranged a non-brokered private placement of debentures and shares for C$1 million.
The company plans to sell 10 debentures at C$100,000 each to 10 individual investors.
The full details of the debentures could not be determined by press time Thursday.
The debentures come with 25,000 shares at C$0.25 each.
Proceeds from the offering will be used for working capital.
Based in Vancouver, B.C., Landstar acquires properties for housing developments.
| Issuer: | Landstar Properties Inc.
|
| Issue: | Debentures and shares
|
| Amount: | C$1 million
|
| Debentures: | 10
|
| Price: | C$100,000
|
| Shares: | 25,000
|
| Price: | C$0.25
|
| Warrants: | No
|
| Pricing date: | Sept. 21
|
| Stock price: | C$0.35 at close Sept. 21
|
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