Earthworks Increases Private Placements
May 19, 2009
Earthworks Industries Inc. (the “Company”) has now signed private placement agreements to sell 2,900,000 Units at $0.25 per Unit – for gross proceeds of $725,000. Each Unit will consist of one common share of the Company and one 18-month share purchase warrant entitling the holder to purchase a further share of the Company for $0.50.
The Company, in a Release dated April 21, 2009, disclosed at that date that it was doing private placements totaling $625,000. It has now increased the placements by $100,000.
Commissions/finders’ fees will be paid with respect to the placements in the amount of $51,875.
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