Business
PRIVATE PLACEMENT MEMORANDUM COMPLETED PENDING LEGAL REVIEW
PRIVATE PLACEMENT MEMORANDUM COMPLETED PENDING LEGAL REVIEW.
About this update from United Rail, Inc.
[{"type":"text","content":"URAL UPDATE TO PRIVATE PLACEMENT MEMORANDUM FUNDRAISING GREEN VITALITY INVESTMENT HOLDINGS INC. (FORMER NAME: UNITED RAIL INC. – OTCMarkets TICKER: URAL) LAS VEGAS, NV, APRIL 6, 2021Following announcements of February 12, 2021, the company is pleased to announce that its planned Private Placement Memorandum (PPM) under s506D is in final draft review before being sent to its legal advisor and attorney Matthew McMurdo Esq. The PPM together with Subscription Agreement and the Registration Rights Agreement will be provided to shareholders once formal legal review is completed. The PPM is expected to achieve several aims.Recapitalize shareholders holding less than marketable quantities.Creating liquidity, market transparency and shareholder wealthFundraise working capital funds for business development.Cleaning up and tidying the share registerAllowing the affected shareholders holding non-marketable parcels to acquire shares at a discount to market in an attempt to recoup their losses caused by the harsh ratio of the reverse splits over the previous history of the company under and administered by the prior management.The fundraising, if fully taken up, will raise up to USD$1.25m and add 500,000 (approx.) shares to the amount of outstanding shares. These shares will have rights of conversion to unrestricted registered shares and be included in the REG A plus which would follow on as a fully registered offering post the close of the PPM. Therefore, after a short holding period and consolidation, the PPM acquired shares will become free to trade as registered securities. Funds to be raised by the PPM will be used for working capital, business cashflow sustainability, identifying acquisition opportunities to grow the business and to fund the investor relations and REG A plus fundraising and promotions of business operations.The PPM is expected to be ready and sent to shareholders with relevant announcements to be made to the market before the end of April 2021.SEC REG A plusThe REG A is planned to be filed and to become effective for the new fiscal year post April 1, 2021 and will be subject to the usual SEC and authority laws and approvals. In the case of the REG A plus being fully subscribed at the proposed issue price, on ...