TORONTO, Sept. 14 /CNW/ - Rtica Corporation ("Rtica" or the
"Corporation") announced today that it has closed the first tranche of a
non-brokered, private placement for an aggregate of 17,491,676 common shares,
for gross proceeds of $771,868. Of the 17,491,676 common shares issued, an
aggregate of 13,464,000 common shares were issued as part of an equity
financing at an average price of $0.0423 per share, and an aggregate of
4,027,676 common shares of the Corporation were issued as part of an exchange
of debt for equity at an average price of $0.0751 per share.
The initial tranche of the private placement was completed under the
partial revocation orders issued by the securities commissions in each of the
provinces of Ontario, Alberta and British Columbia.
RTICA(R) brand insulation is manufactured by a proprietary technology
that converts 100% recycled plastic (PET) into a safe, clean, highly efficient
insulation. Initial distribution as loose fill will be to professional
installation contractors for blown-in-place applications.
Rtica (NEX: RTN.H) currently has 55,695,456 common shares outstanding.
Trading in Rtica shares was halted on October 14, 2005.
NEX Board of the TSX Venture Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of the content of this
(R) Registered trademark of Rtica Corporation.
For further information:
For further information: Warren Arseneau, President, Rtica Corporation,
Tel.: (905) 643-8669, firstname.lastname@example.org