Ceapro raises $2.7 million in brokered private placement



    EDMONTON, June 27 /CNW/ - Ceapro Inc. (CZO - TSX Venture) ("Ceapro" or
the "Corporation") today announced it has completed a $2,692,000 private
placement for net proceeds of $2,488,000. A total of 8,684,190 common shares
and 4,342,095 warrants were issued under the private placement. The common
shares are subject to a hold period of four months from the date of issue.
Each warrant entitles the holder to purchase one common share at a price of
$0.45 until February 2009. The common shares issuable on exercise of the
warrants are also subject to a four-month hold period commencing on the date
of issue of the warrants.
    Northern Securities Inc. acted as lead agent in connection with the
offering and on the closing of the transaction, an aggregate of 464,513
brokers warrants were issued to Northern Securities Inc. and selling group
members to purchase a total of 464,513 common shares at a price of $0.31 per
share, as partial remuneration for their services in connection with the
placement. The common shares issuable on exercise of the brokers' warrants are
also subject to a four-month hold period commencing on the date of issue of
the brokers warrants.
    Ceapro will use the proceeds to increase sales and marketing activities,
support new product research and development, fund additional capital
equipment expenditures, and for general working capital needs.
    "We regard this as a highly successful financing and a critical step as
we move closer to achieving profitability in 2007," stated Dr. Mark Redmond,
President and CEO. "We will carry this momentum into the next few months which
promise to be highlighted by the CeaProve(R) diabetes screening test entering
two Canadian sales channels. These CeaProve(R) activities build on the
achievements announced recently, specifically the introduction of five new
products in the Ceapro Organic line of active ingredients and the US launch of
Ceapro Dermatology," he added.

    About Ceapro Inc.

    Ceapro Technology Inc., Ceapro Veterinary Products Inc., Ceapro Active
Ingredients Inc. and Ceapro Bioenergy Inc. are wholly owned subsidiaries of
Ceapro Inc., which is a Canadian growth-stage biotechnology company. Our
primary business activities relate to the development and commercialization of
organic products for medical, cosmetic and animal health industries using
proprietary technology and natural, renewable resources. We will be applying
our technology to become an active participant in the bioenergy sector. We
have also introduced health and wellness services employing our CeaProve(R)
diagnostic technology. Ceapro shares trade on the Canadian TSX Venture
Exchange under the symbol CZO. To learn more about Ceapro, visit
www.ceapro.com.

    The TSX has neither approved nor disapproved of the information contained
herein - This release may contain forward-looking statements. Various factors
could cause actual results to differ materially from those projected in
forward-looking statements. Although the Company believes that the
forward-looking statements contained herein are reasonable, it can give no
assurance that the Company's expectations are correct. All forward-looking
statements are expressly qualified in their entirety by this cautionary
statement.

    %SEDAR: 00010110E




For further information:

For further information: Dr. Mark Redmond, President and CEO, Ceapro
Inc., Telephone (Edmonton): (780) 421-4555; Nicole Blanchard, B.Sc., B.Comm.,
Managing Partner, Sun International Communications, Telephone (Montreal):
(450) 627-6600

Organization Profile

Ceapro Inc.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890