Knowlton Capital Announces the Closing of a Private Placement in the Amount of $389,000.MONTREAL -- Knowlton Capital Inc. ("Knowlton") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:KCI KCI Kansas City International (airport) KCI Kennel Club of India KCI Key Club International KCI Korea Concrete Institute KCI Kitchener Collegiate Institute KCI Kids Central, Inc. KCI The Kitchen Collection, Inc. KCI Kodak Canada Inc. .P) announces that it has closed a private placement of 1,945,000 common shares of its capital at a price of $0.20 per share for gross total proceeds of $389,000. The shares were issued to 17 investors based on prospectus and registration exemptions. The proceeds of the private placements will be used for operational and marketing purposes. Loan to Buzz Knowlton also announces that the Exchange has conditionally approved the $250,000 secured loan to be provided to Buzz Telecom Inc. ("Buzz"), a reseller of long distance telecommunications services operating in the emerging dial around niche market A niche market also known as a target market is a focused, targetable portion (subset) of a market sector. By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. . Buzz has been identified by Knowlton as a target for its qualifying transaction. The details of the proposed transaction are set forth in the press release published on December 5, 2005. The loan is to be used by Buzz for working capital purposes, and it is anticipated that it will be disbursed in the next few days. The loan is repayable at the latest twelve months after disbursement DISBURSEMENT. Literally, to take money out of a purse. Figuratively, to pay out money; to expend money; and sometimes it signifies to advance money. 2. . The loan will bear interest at the rate of 12% per year and it will be secured by the movable assets of Buzz. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. Capital Knowlton Inc. (TSX VENTURE:KCI.P) |
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