Washmax plans private placement for up to $6 million

By Sheri Kasprzak

Atlanta, April 7 - Washmax Corp. said it plans to raise up to $6 million in a private placement.

The offering will be conducted as part of its acquisition of Colorep Inc.

First Associates Investments Inc. and Grant Bettingen Inc. are the placement agents in the offering.

The terms have not yet been set on the deal, but the offering will be conducted in two stages, the first of which will bring in up to $2 million and the second of which will bring in up to $4 million.

Based in Toronto, Washmax is a holding company for a chain of Laundromats. Colorep is a California-based developer and marketer of products using industrial printing technologies.

The proceeds from the private placement will be used for working capital, to pay down debt and for general corporate purposes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.