Ft. Lauderdale, FL 5/21/2010 10:35 PM GMT (TransWorldNews)
China Select Capital Partners Corp. (TSX-V: CH) has closed a private placement under which it issued 2,500,000 units for $0.20 per unit resulting in a total of $500,000 in gross proceeds.
The terms of the private placement were identical to its last round of financing which was completed in connection with the closing of the qualifying transaction. Each unit contains 1 unissued common share and ½ of a share purchase warrant. A whole warrant enables its holder to acquire 1 additional common share for $0.40 per common share any time until May 20, 2011 and following that date at a price of $0.60 per common share until May 20, 2012.
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China Select plans to use their proceeds mainly for licensing fees related to the Company’s application and license to manage RMB-denominated private equity funds in China.
China Select Capital Partners is a Canada-based investment issuer and asset management firm focused on facilitating foreign investment in the private equity RMB fund industry.
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