TSX-V: PCT
VANCOUVER, Aug. 29, 2011 /CNW/ - Prima Colombia Hardwood Inc. (TSXV:PCT) ("Prima" or the "Company") is pleased to announce that it has completed its non-brokered private placement offering of 39,587,500 units at a price of $0.09 per unit for gross proceeds of $3,562,875. Each Unit consists of one Common Share of the Company and one share purchase warrant (the "Warrants"), each Warrant will entitle the holder to purchase one additional Common Share of the Company at an exercise price of $0.35 per share until September 21, 2015. The Warrants associated with this Offering have the same terms as the existing Prima Warrants that are listed for trading on the TSX Venture Exchange under the symbol PCT.WT.
In connection with the private placement the Company will pay a cash finders fee of $95,895 on the Offering. All securities issued in connection with this Offering are subject to a hold period expiring on December 30, 2011.
About Prima Colombia
Prima Colombia Hardwood Inc. is a TSX Venture Exchange-listed Canadian based forest products company focused on international tropical hardwood timber development, production and marketing. Prima Colombia's initial operations are located near Bahia Solano, Department of Choco on the west coast of the Republic of Colombia. All Prima forestry concessions are intended to be operated following the highest standards of sustainable forestry and environmental management. Prima brings over 30 years of forestry experience and dedication to best environmental operating practices and working with local communities and governmental agencies.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.