By Devika Patel
Knoxville, Tenn., April 6 - VerifySmart Inc. said it arranged a $5 million private placement of stock.
The company will sell 4 million restricted common shares at $1.25 apiece.
Proceeds will be used for general expenditures related to supporting the company's aggressive growth plan.
The Winnetka, Calif., company was formed to engage in the acquisition, exploration and development of natural resource properties.
| Issuer: | VerifySmart Inc.
|
| Issue: | Restricted common stock
|
| Amount: | $5 million
|
| Shares: | 4 million
|
| Price: | $1.25
|
| Warrants: | No
|
| Pricing date: | April 6
|
| Stock symbol: | OTCBB: VSMR
|
| Stock price: | $1.87 at close April 3
|
| Market capitalization: | $113 million
|
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