Business & Finance
Business and Finance
Business and Finance
Fri, May 4, 2012 Spackman Equities Group Announces Private Placement of Common Shares
May 04, 2012 09:06 ET
Spackman Equities Group Announces Private Placement of Common Shares
TORONTO, ONTARIO--(Marketwire - May 4, 2012) -Spackman Equities Group Inc. ("SEGI" or the "Company") (TSX VENTURE:SQG) announced today that it will seek to complete a private placement (the "Private Placement") of 37,727,270 common shares of the Company to arms-length investors at a price of $0.11 per common share for gross proceeds of CAD $4,150,000. A finder's fee of 5% of the gross proceeds of the Private Placement will be payable to Lerner, Griffin, & Peltz Ltd. The Company expects to close the Private Placement on or about May 25, 2012.
The Private Placement is subject to the approval of the TSX Venture Exchange. The proceeds of the Private Placement will be used by SEGI to pursue additional investments and for working capital purposes.
About Spackman Equities Group Inc.
Spackman Equities Group Inc. is a diversified investment holding company that invests into and develops small/medium-sized growth companies that possess proprietary technologies or industry-specific know-how, primarily in Asia. The objectives of SEGI are to (i) selectively invest into or acquire businesses with compelling growth potential at attractive valuations, (ii) build a diversified portfolio of investments, and (iii) deliver the collective value derived from the performance of its portfolio of investments to the shareholders of SEGI. Currently, SEGI's investment portfolio consists of a 17.92% equity stake in Intech LCD Group Limited, a China-based developer and manufacturer of flat panel displays and modules, and, through its holding subsidiaries, SEGI indirectly owns majority stakes in two leading Korean movie production companies, namely, Opus Pictures Co., Ltd. and Zip Cinema Co., Ltd. [ www.spackmanequities.com ].
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
