Pallet Pallet Inc. Message Board

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Gold/Mining/Energy : Pallet Pallet Inc.

PPAL 60.10

0.0%

Sep 23 11:27 AM EST

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To: Richard Nash who wrote ()	10/14/1997 11:21:00 AM
From: De Nardis	of 451

NEWS OUT Pallet Pallet Inc - $20m financing completed Pallet Pallet Inc PLTShares issued 302416111997-10-10 close $0.165Tuesday Oct 14 1997Mr Douglas Moore reports The company has completed its financing with Equity Merchant Banking Corp and Connecticut Bank of Commerce. Pursuant to these transactions, CBC will extend to Pallet Pallet a $14.5 million receivable purchase facility, and EMBC will provide $5.5 million equipment and inventory financing. In conjunction with these facilities, EMBC has also completed a private placement with the company in the approximate amount of $2.1 million. In consideration for the total transaction, approved by shareholders on August 11 1997, the company will issue to EMBC a total of approximately 36% of the outstanding shares of Pallet Pallet. These facilities will provide sufficient financing to finance the daily activities of the company, consolidate all existing bank lines of credit, and make final payment to holders of promissory notes. With the completion of this transaction, the restructuring of the company is now complete, and management can now move forward to implement its business plan for growth and profitability. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)

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