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.
