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TOPIC: CPKA - Chase Packaging Corp.

CPKA - Chase Packaging Corp. 11 years 7 months ago #1252

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[Interesting list of Directors...]
Allen T. McInnes, 69 1993 Currently Dean of the Business School of Texas Tech University; Chairman of the Board of TGC Industries, Inc. since 1993 and Chief Executive Officer from August, 1993 to March 31, 1996; Executive Vice President and Director of Tenneco, Inc. 1960-1992; Director of TETRA Technologies since April 1, 1996

Herbert M. Gardner, 67 2001 Executive Vice President and Treasurer of Barrett-Gardner Associates, Inc., an investment banking firm; Director of Co-Active Marketing Group, Inc., a marketing and sales promotion company; Director of Nu Horizons Electronics Corp., an electronic component distributor; Chairman of the Board and Director of Supreme Industries, Inc., a manufacturer of specialized truck bodies and shuttle buses, since 1979; Director of TGC Industries, a seismic services company; Director of Rumson-Fair Haven Bank and Trust Company, a New Jersey state independent, commercial bank and trust company.

William J. Barrett, 67 2001 President of Barrett-Gardner Associates, Inc., an investment banking firm; Director of Supreme Industries, Inc., a specialized manufacturer of truck bodies and shuttle buses; Director of TGC Industries, Inc., a seismic services company; Chairman of the Board of Rumson-Fair Haven Bank and Trust Company, a New Jersey state independent, commercial bank and trust company.


www.sec.gov/Archives/edgar/data/1025771/...67/v069462_10ksb.htm
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CPKA - Chase Packaging Corp. 11 years 7 months ago #1251

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[CPKA - Chase Packaging Corp.]
Chase Packaging Completes Closing of Private Placement

FAIR HAVEN, NJ -- (MARKET WIRE) -- 09/10/07 -- Chase Packaging Corporation (PINKSHEETS: CPKA) today announced the completion of a Private Placement of 13,334 investment units at a per unit purchase price of $150, for a total subscribed amount of $2,000,100. Each investment unit consists of: (1) one share of Series A 10% Convertible Preferred Stock, par value $1.00 per share, stated value $100 per share; (2) 500 shares of the Company's $0.10 par value Common Stock; and (3) 500 Warrants, each of which is exercisable into one share of the Company's Common Stock at $0.15 per share.

The Company ceased its prior packaging business operations as of December 31, 1997, and since that time the Company has maintained its publicly held status, but does not conduct any substantive business.

The net proceeds from the recently completed private placement will initially be invested in short term U.S. Treasury securities and be used for working capital and general corporate purposes while the Company's Board pursues opportunities for a business transaction with an independent operating company.

CONTACT:
Chase Packaging Corporation Ann C.W. Green (732) 741-1500 Chief Financial Officer

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