Process Capital Corp (TSX-V:POR)
Shares Issued 127,305,752
Last Close 5/30/2008 $0.05
Tuesday June 03 2008 - News Release
Mr. RobertGrimard reports
PROCESS CAPITAL ANNOUNCES CLOSING OF PRIVATE PLACEMENT
Process Capital Corp. has received approval from the TSX Venture Exchange and has closed its private placementcomprising 20 million units at a price of five cents per unit, each unitcomprising one common share and one warrant to purchase a common share at aprice of 10 cents per common share, for total proceeds of $1-million The warrants will expire on Dec. 3, 2009. Theproceeds of the financing will be added to the working capital of the companyand will finance the development of the company's new waste oil microrefinery tobe built at its site in Kingston, Ont.
Enviromatrix Technologies Inc., the principalshareholder of the company, has purchased the full amount of the privateplacement and now holds 62,838,742 common shares of the company, representing42.6 per cent of the issued and outstanding 147,472,574 common shares of the company.The control person for EnviroMatrix is Anthony Cosentino, its president.
Prior to giving effect to the private placement, 127,472,574 commonshares and 50 million common share purchase warrants of the company wereissued and outstanding.
