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METALCLAD PLACES $1,500,000 IN PRINCIPAL AMOUNT OF SUBORDINATED DEBENTURES WITH PRINCOR GROWTH FUND AND PRINCOR EMERGING GROWTH FUND

 METALCLAD PLACES $1,500,000 IN PRINCIPAL AMOUNT OF SUBORDINATED


DEBENTURES WITH PRINCOR GROWTH FUND AND PRINCOR EMERGING GROWTH FUND
 ANAHEIM, Calif., June 10 /PRNewswire/ -- Metalclad Corp. (NASDAQ: MTLC) announced today that it has placed $1,500,000 in principal amount of its 8 percent convertible subordinated debentures due 1997 with the Princor Growth Fund and the Princor Emerging Growth Fund. The conversion rate is $4.00 per share.
 Dickinson & Co. acted as placement agent in the transaction.
 Metalclad Corp. is engaged in industrial insulation services and insulation material sales to customers primarily in California. The company is also engaged in the development of toxic and hazardous waste treatment facilities in Mexico.
 -0- 6/10/92
 /CONTACT: Grant S. Kesler, CEO, or Elgin Williams, investor relations, of Metalclad, 714-634-9050; or Bruce H. Haglund, Esq., 714-752-6100, for Metalclad/
 (MTLC) CO: Metalclad Corp. ST: California IN: SU:


CH -- LA036 -- 9017 06/10/92 18:07 EDT
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Publication:PR Newswire
Date:Jun 10, 1992
Words:154
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