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ASIA BIO-CHEM GROUP CORP. ANNOUNCES CLOSING OF $10 MILLION EQUITY FINANCING
Feb. 1, 2011 (Canada NewsWire Group) -- NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVI...
About this update from Absolutely Critical Resources Corp.
[{"type":"text","content":"\n\n\n\n Feb. 1, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES \nOR FOR DISSEMINATION IN THE UNITED STATES\n\n\nTORONTO, Feb. 1 /CNW/ - Asia Bio-Chem Group Corp. (TSX: ABC) ("Asia\n Bio-Chem" or the "Company") announced today that it closed the bought\n deal financing with a syndicate of underwriters led by Canaccord\n Genuity Corp. and including Dundee Securities Corporation, Jennings\n Capital Inc., Mackie Research Capital Corporation, Octagon Capital\n Corporation, Raymond James Ltd., and Northern Securities Inc. (the\n "Underwriters"), previously announced on January 12, 2011. The Company\n issued 7,200,000 common shares ("Common Shares") at a price of $1.40\n per Common Share for gross proceeds to the Company of approximately $10\n million (the "Financing"). The Common Shares were issued under a short\n form prospectus dated January 25, 2011.\n\n\nThe Underwriters also received an over-allotment option to purchase up\n to an additional 1,080,000 Common Shares on the same terms and\n conditions, exercisable at any time, in whole or in part, up to 30 days\n after the closing of the Financing. \n\n\nThe net proceeds of the Financing will be used to fund the construction\n of a downstream production facility at the Company's existing Daqing\n plant. Asia Bio-Chem will use approximately 250,000 tonnes of\n cornstarch produced annually at its Daqing plant for further ...