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Seaway Valley Capital Corporation (OTCBB: SWVC), a company that invests in equity, equity-related, and debt in companies that require expansion capital and in companies pursuing acquisition strategies, consummated a financing agreement with YA Global Investments, L.P. in the form of a convertible debenture for total gross proceeds of $550,000 and a warrant to purchase an additional 60 million shares of the company's common stock. The funds will be used for various business activities, including effectuating an acquisition of 100% of the stock of an undisclosed company that Seaway recently executed letter of intent to acquire. In addition, a certain portion of the funds may be used to assist its recently acquired wholly owned subsidiary, Hacketts, in the transition of WiseBuys stores into Hacketts stores. The stock finished up a penny for the week, to close at $0.016.
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