By Devika Patel
Knoxville, Tenn., Sept. 28 - Naples Capital Corp. announced it has closed a C$2.44 million private placement of units to finance its acquisition of Takara Resources Inc.
The company sold 6,997,883 units at C$0.35 apiece. Each unit consists of one common share and one half-share warrant, which is exercisable at C$0.50 until March 18, 2009.
Naples paid Initial Capital Partners Ltd. an 8.5% commission and 697,788 brokers option units, which are exercisable for one common share and one half-share warrant at C$0.35 until March 18, 2009.
Naples acquired Takara for 21,835,050 common shares and 3,488,942 share purchase warrants, which also are exercisable at C$0.50 until March 18, 2009.
Naples Capital does not have significant operations, according to Businessweek.com. It intends to identify and evaluate assets or businesses with a view to complete a qualifying transaction. The company was incorporated in 2005 and is based in Woodlawn, Ont.
Issuer: | Naples Capital Corp.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$2,442,259
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Units: | 6,997,883
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Price: | C$0.35
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Warrants: | One half-share warrant per unit
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Warrant strike price: | C$0.50
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Warrant expiration: | March 18, 2009
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Settlement date: | Sept. 28
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Stock symbol: | TSX Venture: NAP.P
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Stock price: | C$0.39 at close on Sept. 27
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