ProSep Closes Private Placement
ProSep has closed a tranche of its private placement previously announced on May 6, 2010. ProSep issued 20,384,616 common shares at a purchase price of $0.13 for gross proceeds of approximately $2,650,000.
The proceeds from the private placement will be used for working capital purposes.
Pursuant to applicable securities legislation, the issued common shares have a restricted “hold” period of four (4) months from the date of closing of the private placement.