By Sheri Kasprzak
New York, April 10 - NetCo Investments Inc. said it plans to raise $1 million from a private placement of stock.
The deal includes 1 million shares.
Proceeds will be used for marketing expenses related to the company's Vitabeast.com product, as well as for the development of a catalyst being acquired from Syntec Biofuel Inc.
After the deal was announced Monday evening, the stock gained 1,400%, or $1.40, to close at $1.50.
Located in Vancouver, B.C., NetCo acquires and develops shopping centers. The investment in Syntec Biofuel is the first investment the company has made outside of the real estate sector.
| Issuer: | NetCo Investments Inc.
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| Issue: | Stock
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| Amount: | $1 million
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| Shares: | 1 million
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| Price: | $1.00
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| Warrants: | No
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| Pricing date: | April 10
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| Stock symbol: | OTCBB: NIVS
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| Stock price: | $1.50 at close April 10
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