June 17, 2009 07:30 ET

Ceapro Raises $466,000 in Non-Brokered Private Placement

EDMONTON, ALBERTA--(Marketwire - June 17, 2009) - Ceapro Inc. (TSX VENTURE:CZO) ("Ceapro" or the "Corporation") announces today that it has completed a $466,000 private placement. A total of 4,660,000 common shares were issued under the private placement at a price of $0.10 each. The common shares are subject to a four-month hold period which expires on October 16, 2009.

Certain directors and officers of Ceapro participated in the private placement and subscribed for and purchased an aggregate of 910,000 common shares.

Ceapro will use the proceeds for sales and marketing, research and development, product and market expansion and for general working capital purposes.

About Ceapro Inc.

Ceapro Inc. is a Canadian growth-stage biotechnology company. Primary business activities relate to the development and commercialization of active ingredients using proprietary technology and natural, renewable resources. To learn more about Ceapro, visit www.ceapro.com.

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

  • Ceapro Inc.
    Branko Jankovic
    Vice President and CFO
    Telephone (Edmonton): 780-917-8376
    Sun International Communications
    Nicole Blanchard, B.Sc., B.Comm
    Managing Partner
    Telephone (Montreal): 450-973-6600