WestBond Announces Closing of Private Placement
21 2월 2014 - 7:15AM
Marketwired
WestBond Announces Closing of Private Placement
DELTA, BRITISH COLUMBIA--(Marketwired - Feb 20, 2014) - WestBond
Enterprises Corporation (TSX-VENTURE:WBE) (the "Company") is
pleased to announce that it has closed its previously announced
non-brokered private placement of common shares (the "Private
Placement"). The Company issued 3,447,000 common shares at a price
of $0.09 per common share, raising aggregate gross proceeds of
$310,230. Certain insiders of the Company acquired common shares
under the Private Placement.
The net proceeds of the Private Placement will be used to
purchase plant and equipment to vertically integrate and expand the
Company's manufacturing of paper products.
Mario Grech acquired 2,225,000 common shares under the Private
Placement. As a result, Mr. Grech's holdings increased from
3,875,000 common shares, representing 13% of the Company's issued
and outstanding shares, to 6,100,000 common shares, representing
18.3% of the Company's issued and outstanding shares. Mr. Grech
acquired his common shares under the Private Placement for
investment purposes and may increase or decrease his ownership of
securities of the Company from time to time.
The Company did not file a material change report more than 21
days before the expected closing of the Private Placement as the
details of the Private Placement and the participation therein by
insiders of the Company were not settled until shortly prior to
closing and the Company wished to close the Private Placement on an
expedited basis for sound business reasons.
To obtain a copy of Mr. Grech's early warning report filed on
SEDAR at www.sedar.com pursuant to National Instrument 62-103,
please contact Gennaro Magistrale via the contact information
listed below.
ON BEHALF OF THE BOARD
Gennaro Magistrale, Chief Executive Officer, President and
Director
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Gennaro MagistraleWestBond Enterprises Corporation7871 - 82nd
Street, Delta, B.C. V4G 1L9Tel: (604) 940-3939
WestBond Enterprises (TSXV:WBE)
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