Gateway Access Solutions Inc.
of Carson City plans to sell 2.3 million shares at 15 cents each in a private placement.
North American Funding, a Texas-based firm,will handle the sale, which is expected to raise $345,000 that Gateway Access Solutions will use for working capital.
As part of the transaction, Gateway Access Solutions will sell another $655,000 of its common stock to a private investor at a 10 percent discount to the shares'market price on the day they're purchased.
Publicly traded Gateway Access Solutions provides business broadband services in small to mid-sized markets.
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