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Active Growth Capital Inc Announces Closing of $250,000 Private Placeme


Thursday, 13 Dec 2012 04:47pm EST 

Active Growth Capital Inc announced the closing of its previously announced private placement for aggregate gross proceeds of $250,000, through the issuance of 10,000,000 Units at $0.025 per Unit. Each Unit consists of one common share of the Company and one share purchase warrant (a Warrant) with each Warrant exercisable at a price of $0.10 at any time within 12 months from date of issue. Please note that the initial press release mentioned a half Warrant in each Unit, which was later modified for a full Warrant per Unit. The Corporation paid a finder's fee of $3,600, equal to 8% of certain gross proceeds of the private placement, to a registered dealer. Proceeds from the private placement will be used towards the Corporation's operations in Canada, approximately $200,000 will be allocated for accounts payable, $35,000 for operations and $15,000 for the Corporation's Annual and Special Meeting, expected to be held within the next three months. The private placement was approved by the Corporation's Board of Directors, excluding those directors that have a direct interest in the private placement. 

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