By Devika Patel
Knoxville, Tenn., Dec. 5 - Rubicon Financial Inc. announced it has settled a private placement of stock, raising $2 million.
The company sold 1 million restricted common shares at $2.00 per share to American International Industries, Inc. American International Industries paid for the shares with $1 million in cash and 200,000 of its restricted common shares.
Proceeds will be used for general working capital and to fund new financial service divisions.
Based in Irvine, Calif., Rubicon Financial is a holding company.
| Issuer: | Rubicon Financial Inc.
|
| Issue: | Restricted common shares
|
| Amount: | $2 million
|
| Shares: | 1 million
|
| Price: | $2.00
|
| Warrants: | No
|
| Investor: | American International Industries, Inc.
|
| Settlement date: | Dec. 5
|
| Stock symbol: | OTCBB: RBCF
|
| Stock price: | $3.00 at close Dec. 4
|
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