NetworkNewsBreaks – Ceylon Graphite Corp. (TSX.V: CYL) (OTC: CYLYF) (FSE: CCY) Planning Private Placement of Units to International Consortium
Ceylon Graphite (TSX.V: CYL) (OTC: CYLYF) (FSE: CCY), a graphite mining company, plans to complete a nonbrokered private placement of units to a consortium of four international investors; the private placement could reach gross proceeds of up to $6,000,000. According to the announcement, once the offering is complete, the consortium will own approximately 55% of the issued and outstanding shares of the company, with no one subscriber holding more than 15% of the issued and outstanding shares. In addition, the company announced the appointment of Paul Selvam Devadoss and Anuka B.A Soza to its Board of Directors. “In these very…







