(April 7 – 11:30 ET) – Investorplus.com, the U.S. subsidiary of International Properties Group Ltd., has completed its first round of venture capital financing, selling approximately $3 million worth of its Series A Preferred Stock at US$2.66 per share. The private placement was oversubscribed by institutions and private U.S. and Canadian investors.
The company plans to use the proceeds from this financing for general operating expenses, marketing expenses and other working capital requirements to support the development its e-commerce platform.
Investorplus.com claims to be revolutionizing the way the world invests. Its Virtual Apartment Building concept enables clients to create geographically diverse portfolios of well-selected, high-grade investment properties in high-growth and emerging markets.
International Properties Group Ltd., Investorplus.com’s parent company, owns or asset-manages 54 properties with 7,697 condominium suites. Corporate offices are located in Calgary, with sales offices in Vancouver, Edmonton, Toronto, Ottawa, Seattle and Scottsdale, Ariz.
-IE Staff