By Sheri Kasprzak
New York, June 29 - RPM Technologies, Inc. concluded a $3 million private placement of term notes with Laurus Master Fund, Ltd.
The notes are due June 19, 2009 and bear interest at Prime rate plus 300 basis points.
The notes may be prepaid at par plus interest.
Laurus will also receive warrants for 3.75 million shares, exercisable at $0.001 each through June 19, 2016.
Located in Park Forest, Ill., RPM makes packing pallets used for distributing products.
| Issuer: | RPM Technologies, Inc.
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| Issue: | Secured term notes
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| Amount: | $3 million
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| Maturity: | June 19, 2009
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| Coupon: | Prime rate plus 300 basis points
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| Warrants: | For 3.75 million shares
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| Warrant expiration: | June 19, 2016
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| Warrant strike price: | $0.001
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| Investor: | Laurus Master Fund, Ltd.
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| Settlement date: | June 23
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| Stock symbol: | OTCBB: RPMM
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| Stock price: | $0.13 at close June 23
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