Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : KSWJ - KSW Industries, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: islandkim who wrote (222)	9/21/2006 7:19:30 PM
From: Rocket Red	Respond to of 283

Genoil Inc (C-GNO) - News Release Genoil closes oversubscribed $3-million (U.S.) offering 2006-09-21 19:17 ET - News Release Shares issued 212,389,842 GNO Close 2006-09-21 C$ 0.92 Mr. David Lifschultz reports GENOIL INC. ANNOUNCES CLOSING OF OVER-SUBSCRIBED PRIVATE PLACEMENT Genoil Inc. has closed the first tranche of the private placement previously announced in Stockwatch on Sept. 7, 2006. In connection with the closing of the private placement, the corporation has issued 4,109,589 units, at a price of 73 U.S. cents per unit, each unit consisting of one common share and 0.25 common share purchase warrant for total gross proceeds of $3-million (U.S.). The warrants are exercisable until two years following their issue date at a price of $1.10. (U.S.). Additionally, if at any time following the issuance of the warrants, the 20-day-average closing price of the corporation's common shares on the OTC Bulletin Board is greater than $1.38 (U.S.), the corporation will be entitled to redeem the warrants at a price equal to one U.S. cent per warrant. The common shares issued in connection with this private placement are subject to a four-month hold period. The corporation is also pleased to announce that the private placement, which was originally announced for $3-million (U.S.), has been oversubscribed and the corporation intends to increase the size of the private placement by up to $1-million (U.S.) to accommodate additional subscribers. The increase in size of the private placement remains subject to receipt of all necessary approvals, including that of the TSX Venture Exchange.