Amerpro Resources Inc.
TSX VENTURE : AMP.A

July 28, 2009 11:21 ET

Amerpro Announces $3M Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 28, 2009) - AMERPRO RESOURCES INC. (TSX VENTURE:AMP.A) (the "Company"). Donald Gee, President, is pleased to announce that the Company has entered into an agreement with Byron Capital Markets, a division of Byron Securities Ltd. ("Byron" or the "Agent") to finance a private placement of up to 12 million units of the Company, on a best efforts basis, at a price of $0.25 per unit, for gross proceeds of up to $3,000,000. Each unit shall consist of one common share of the Company and one half of one common share purchase warrant. Each whole warrant shall be exercisable at any time for one common share at a price of $0.40 per share for a period of 12 months following closing. The Agent shall be entitled to a cash commission equal to 8% of the gross proceeds of the offering. In addition, the Agent shall receive Agent's compensation warrants representing 10% of the units sold. Each Agent's warrant will entitle the Agent to purchase one unit of the offering at the issue price within 12 months of the closing date.

The financing is subject to regulatory approval.

The net proceeds of the offering will be for general working capital purposes.

ON BEHALF OF THE BOARD

Donald Gee, President, CEO and Director

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 release.

Contact Information

  • Amerpro Resources Inc.
    Mr. Donald Gee
    President
    604-618-3433
    604-646-0067 (FAX)
    or
    Byron Capital Markets, a division of Byron Securities Ltd.
    Mr. John Rak
    647-426-1663