Mercator (TSXV:GMT.V), announces closing of $750,000 private placement – Dominion Lending Centres Clearlease
LAVAL, QUEBEC – (April 27, 2011) Clearlease.com Mercator Transport Group Corporation (TSXV:GMT.V), is proud to announce the closing, as of April 26, 2011, of a private placement in the amount of $750,000 through the issuance of 1,875,000 common shares at a price of $0.40 per share. This private placement is completed with an institutional investor.
Mercator Transport intends to use the private placement proceeds for the general working capital needs of African divisions of the corporation, making it possible to make bids on more important contracts on this continent.
This private placement is completed without the use of broker or dealer services. After the private placement, through which no warrants will be issued, the number of common shares issued and outstanding will be at 35,010,001.
The Mercator Transport shares issued through this private placement are subjected to a four-month holding period following the issuance of the common shares, in accordance with applicable securities laws and TSX Venture Exchange policies.
It is to be noted that the aforementioned private placement is conditional to final approval by the TSX Venture Exchange and other requirements.
About Mercator Transport
Mercator Transport specializes in freight forwarding, international logistics and distribution. Based in Montreal (Canada), with offices in the United States, France, Ghana, Kenya, Uganda, Tanzania and Zambia, Mercator Transport offers value-added services in global supply chain management, and designs tailor-made solutions. Customer intimacy and commitment differentiates Mercator Transport in its ability to implement customers’ requirements.
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About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease / Clearlease.com ) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending / Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
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