Dynatec closes stage 1 of Northfield placement

Under the agreement’s first stage, Northfield has placed 1.1 million shares with Dynatec at 45 cents each, representing aggregate proceeds of about $500 ,000.

In connection with the private placement, Northfield has also granted to Dynatec the right to purchase up to an additional 4.2 million common sh ares at 45/7dh / per share until Feb. 28, 1990.

Dynatec Chairman Robert Dengler was recently appointed as a director of Northfield.

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