Proceeds enable full funding of Tonkawa 600 machine placement agreement
MILL VALLEY, CA, April 30, 2015 /CNW/ - POYDRAS GAMING FINANCE CORP. (TSX-V: PYD) ("Poydras," "PGFC," or the "Company") has completed its previously announced non-brokered private placement (see News Release dated April 14, 2014), effective April 29, 2015. Poydras issued 66,073,284 common shares at C$0.07 per share, raising C$4.6 million in gross proceeds, a 3% increase over the original financing target of C$4.5 million.
All shares issued in connection with the private placement are subject to a statutory four-month hold from the date of issuance. Net proceeds from the private placement will be used to fund the Company's 600 machine placement with the Tonkawa Tribe of Indians of Oklahoma