Incorporated Announces Closing of Non-Brokered Private Placement

TORONTO, ONTARIO -- (MARKET WIRE) -- Aug 15, 2011 -- Incorporated (TSX VENTURE: EGN), developer of the online resource for engineers, is announcing the closing of a non-brokered private placement of 7,000,000 common shares at a subscription price of $0.05 per common share, for gross proceeds of $350,000, as previously announced on August 4, 2011.

The proceeds of the private placement will be used to address the Company's working capital shortfall and to expand its online content offering.

As previously announced on August 4, 2011, the Company confirms that insiders of the Company subscribed for greater than 25% of the private placement. John Hayes, President of the Company, subscribed for 2,000,000 common shares of the Company. Including the common shares he subscribed for in the private placement, Mr. Hayes presently owns or controls 2,365,000 common shares of the Company. Randvest Inc. ("Randvest"), a company controlled by Frank Baldesarra, CEO, Secretary, Treasurer and a director of the Company, and also a control person of the Company, subscribed for 4,040,000 common shares of the Company, representing 9.2% of the Company's issued and outstanding shares on closing. Including the common shares Randvest subscribed for in the private placement, Frank Baldesarra presently owns or controls 22,930,761 common shares of the Company, representing 52.3% of the Company's issued and outstanding common shares. As a result of the subscription for common shares by Randvest, Ron Baldesarra, a director of the Company and a 40% shareholder of Randvest, acquired beneficial ownership, but not control over the common shares subscribed for by Randvest. Including 40% of the common shares Randvest subscribed for in the private placement, Ron Baldesarra presently beneficially owns 1,616,000 common shares of the Company, and owns or controls a further 3,204,500 common shares of the Company, representing in the aggregate 11% of the Company's issued and outstanding common shares. Neither Frank Baldesarra nor Ron Baldesarra have a future intention to acquire ownership of, or control over, additional securities of the Company. The private placement did not result in the creation of any new insiders or control persons, and the common shares were issued under applicable prospectus and registration exemptions to investors in Ontario. There will be no finder's fees, commissions or warrants paid or issued in connection with this private placement.

The common shares will be subject to a four-month hold period from the date of issuance in accordance with the policies of the TSX Venture Exchange and applicable securities legislation.

Final acceptance of the private placement has been granted by the TSX Venture Exchange.

About Incorporated Incorporated (TSX VENTURE: EGN) is the developer-owner of the Web site and business. offers marketing services to manufacturers, design consultants and engineering academia around the world. The Incorporated head office is located in Mississauga, Ontario, Canada and can be reached toll-free at 1-877-997-9917, by facsimile at 905-273-6691 or through the Internet at

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contacts:, Inc.
John Hayes
President & CFO
905-273-9991, ext. 3280 or Toll Free: 1-877-997-9917
905-273-6691 (FAX)

Email Contact

Review Article Be the first to review this article


Featured Video
Inside Sales for SolidCAM at Newtown, PA
Director of Mechanical Engineering for Velodyne LIDAR at Morgan Hill, CA
Architetural Project Manager for DRA Architects at Irvine, CA
Architect for North County Transit District at Oceanside, CA
Database Specialist for MDA Information Systems LLC at Gaithersburg, MD
Data Scientist for University of Utah at Salt Lake City, UT
Upcoming Events
DriveWorks World at The Barley Store Laskey Lane Thelwall Cheshire United Kingdom - Mar 6 - 9, 2017
JEC World 2017 at Paris Nord Villepinte Exhibition Centre Paris France - Mar 14 - 16, 2017
SOLIDWORKS funding event – Leicester at The National Space Centre, Exploration Dr, Leicester, LE4 5NS Leicester United Kingdom - Mar 17, 2017
ACE 2017 Nashville at Nashville TN - Mar 21 - 23, 2017
SolidCAM: Patented Wizard to optimal feeds & speeds

Internet Business Systems © 2017 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy Advertise