PanAgra International Corporation Announces Private Placement

Apr 17, 2001, 01:00 ET from PanAgra International Corporation

    NEW YORK, April 17 /PRNewswire/ -- PanAgra International Corporation
 (OTC Bulletin Board:   PNGR) today announced that it raised $1,500,000, in the
 aggregate, through the private placement of 7,500,000 shares of its Common
 Stock. $70,000.00 of the proceeds of the private placement were raised from
 the sale of Common Stock to accredited investors in transactions exempt from
 the registration requirements of the Securities Act pursuant to Regulation D
 promulgated thereunder. The remaining $1,430,000.00 of the proceeds of the
 private placement were raised from the sale of Common Stock to
 non-U.S. persons in transactions exempt from the registration requirements of
 the Securities Act pursuant to Regulation S promulgated thereunder. PanAgra
 will use the proceeds of the private placement for working capital purpose.
 
     Statements included in this press release, which are not historical in
 nature, are forward-looking statements made pursuant to the safe-harbor
 provisions of the Private Securities Litigation Reform Act of 1995.
 Forward-looking statements regarding the company's future business prospects,
 plans, objectives, expectations and intentions are subject to certain risks,
 uncertainties and other factors that could cause actual results to differ
 materially from those projected or suggested in the forward-looking
 statements, including the inability of the company to raise additional
 capital. This press release shall not constitute an offer to sell or the
 solicitation of an offer to buy the securities of the company nor shall there
 be any sale of these securities in any state in which such offer, solicitation
 or sale would be unlawful prior to registration or qualifications under the
 securities laws of any such state.
 
 

SOURCE PanAgra International Corporation
    NEW YORK, April 17 /PRNewswire/ -- PanAgra International Corporation
 (OTC Bulletin Board:   PNGR) today announced that it raised $1,500,000, in the
 aggregate, through the private placement of 7,500,000 shares of its Common
 Stock. $70,000.00 of the proceeds of the private placement were raised from
 the sale of Common Stock to accredited investors in transactions exempt from
 the registration requirements of the Securities Act pursuant to Regulation D
 promulgated thereunder. The remaining $1,430,000.00 of the proceeds of the
 private placement were raised from the sale of Common Stock to
 non-U.S. persons in transactions exempt from the registration requirements of
 the Securities Act pursuant to Regulation S promulgated thereunder. PanAgra
 will use the proceeds of the private placement for working capital purpose.
 
     Statements included in this press release, which are not historical in
 nature, are forward-looking statements made pursuant to the safe-harbor
 provisions of the Private Securities Litigation Reform Act of 1995.
 Forward-looking statements regarding the company's future business prospects,
 plans, objectives, expectations and intentions are subject to certain risks,
 uncertainties and other factors that could cause actual results to differ
 materially from those projected or suggested in the forward-looking
 statements, including the inability of the company to raise additional
 capital. This press release shall not constitute an offer to sell or the
 solicitation of an offer to buy the securities of the company nor shall there
 be any sale of these securities in any state in which such offer, solicitation
 or sale would be unlawful prior to registration or qualifications under the
 securities laws of any such state.
 
 SOURCE  PanAgra International Corporation