TinyMassive plans $400,000 private placement

TinyMassive plans $400,000 private placement
2010-07-09 17:44 ET - News Release
Mr. Bruno Gasbarro reports
TINYMASSIVE ANNOUNCES CONVERSION OF DEBT INTO COMMON SHARES
TinyMassive Technologies Inc. is proposing a private placement of up to eight million common shares at a price of five cents per share for total proceeds up to $400,000. Each share offered in the private placement will comprise one common share in the capital of the company. The private placement is expected to close within the next 45 days and is subject to regulatory approval. The company intends to use approximately $300,000 of the proceeds raised from the issuance of these securities for the operations of TBwaP Inc., with the remaining amount being delegated for the general working capital of the company. The company currently owns approximately 51 per cent of TBwaP and is negotiating to acquire the remaining 49 per cent.