Dura Products International Announces Private Placement for $500,000 CDN to Finance Growth.Business Editors TORONTO--(BUSINESS WIRE)--April 12, 2000 As a result of Dura Products' (CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. :DURP DURP Department of Urban and Regional Planning (Universities) DURP Defense University Research Program .)(OTCBB OTCBB See OTC Bulletin Board (OTCBB). :DRPDF) new marketing direction toward the sale of materials to pallet manufacturers and the entry into the rapidly growing market for composite decking, Richard Hamilton, President of Dura Products, today announced a private placement for up to $500,000 CDN. A private placement for up to 2,500,000 Units at $.20 CDN per Unit for total proceeds of $500,000 CDN has been agreed upon with private investors. Each Unit consists of one common share and one common share purchase warrant. Each common share purchase warrant plus $.25 CDN shall entitle the holder to purchase one additional common share for a period of six months from date of issue. The placement of the Units is subject to the completion of documentation, due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. and regulatory approval. "The funds raised as a result of this offering will be used to finance production of orders recently received by the company as well as the acquisition of new equipment. Dura Products is now entering a growth stage based upon recent and developing efforts in the decking markets," Mr. Hamilton said. Dura Products International Inc. is an eco-efficient producer of a proprietary composite material made from a combination of recycled post consumer/post industrial plastics and cellulose fibre. The composite material is used by the company to produce a number of products, including shipping pallets, decking, industrial floor blocks, and composite lumber. For further information: Investor Relations: Sid Green, Tel: 416/679-0556; Fax: 416/679-0614 E-mail: durainfo@duraproducts.com Listed: CDN (Canadian Dealing Network Canadian Dealing Network (CDN) The organized OTC market of Canada. Formerly known as the Canadian Over-the-Counter Automated Trading System (COATS), the CDN became a subsidiary of the Toronto Stock Exchange in 1991. ) Current Price: C$0.23 (US$0.16) NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Bulletin Board Symbol: DURP / DRPDF Shares Outstanding: 32,547,619 |
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