University Avenue Financial Corp, the parent company of @rgentum Management & Research Corp. has completed a private placement to raise $750,000.

University Avenue issued 7.5 million common Shares at a price of 10¢ per common share. The company says it intends to use the proceeds of the financing to repay existing indebtedness and for general working capital purposes.

TIS Group Inc., based in Minneapolis, purchased 3 million of the shares, representing approximately 16% of the issued and outstanding common shares of University Avenue.

University Avenue also announced today that it issued 350,000 common shares in settlement of debts in the amount of $35,000.