Piedmont Mining Company Closes Final Tranche of Private Placement.RENO, Nev. -- Piedmont Piedmont, region, Italy Piedmont (pēd`mŏnt), Ital. Piemonte, region (1991 pop. 4,302,565), 9,807 sq mi (25,400 sq km), NW Italy, bordering on France in the west and on Switzerland in the north. Mining Company, Inc. (Pink Sheets: PIED) today announced that it has closed the final US$201,750 tranche Tranche One of several related securities offered at the same time. Tranches from the same offering usually have different risk, reward, and/or maturity characteristics. tranche A class of bonds. of a US$1,106,750 private placement. The private placement was conducted outside the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. in accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.[] As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with Regulation S under the Securities Act of 1933, as amended. The private placement was priced at US$0.15 per Unit, with each Unit consisting of one share of Common Stock and one half of a two-year Warrant. Each two year Warrant is exercisable at US$0.26 per share. In connection with the private placement, the Company granted a two-year Warrant to purchase an aggregate of 737,833 shares of the Company's Common Stock at US$0.15 per share to a placement agent. Net of commissions, the Company has received US$185,610 from the final tranche, and a total of US$1,040,210 from the private placement. In connection with the private placement and on behalf of the selling shareholders, the Company has agreed to file a Registration Statement with the Securities and Exchange Commission covering the resale resale n. selling again, particularly at retail. In many states a "resale license" or "resale number" is required so that the state can monitor the collection of sales tax on retail sales. RESALE. by the investors of 11,067,500 shares of the privately placed common stock, including the common stock issuable upon exercise of the Warrants, within 120 days of the initial closing. The funds will be used for working capital and general corporate purposes. This press release does not constitute an offer to sell, or the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy, any securities, nor shall there be any sale of securities mentioned in this press release in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. |
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