Company sells shares at $0.75 each in order to purchase Colorado land
By Devika Patel
Knoxville, Tenn., May 28 – ROI Land Investments, Ltd. said it raised $3.5 million in a private placement of stock.
The company sold common shares at $0.75 apiece. The price per share is a 73.21% discount to $2.80, the May 27 closing share price.
Proceeds will be used to acquire and develop 225 acres of undeveloped land in Evans, Colo., and for general corporate purposes.
The real estate investment company is based in Quebec City.
| Issuer: | ROI Land Investments, Ltd.
|
| Issue: | Common stock
|
| Amount: | $3.5 million
|
| Price: | $0.75
|
| Warrants: | No
|
| Announcement date: | May 28
|
| Stock symbol: | OTCBB: ROII
|
| Stock price: | $2.80 at close May 27
|
| Market capitalization: | $117.29 million
|
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