Dickie Walker Marine pursues private placement financing

OCEANSIDE, Calif. – Dickie Walker Marine, Inc. (DWMA) has sold 24 units, each consisting of 9,375 shares of common stock, one $12,500 promissory note, with interest payable at 8 percent per annum over a three-year term, and 5,000 30-month warrants to purchase common stock at $2.10 per share, it reported in a statement today. These securities were sold in a private placement. Total gross proceeds were $600,000.

The principal use of the net proceeds from the offering will be to fund the opening of retail stores and for working capital, according to the company.

Dickie Walker Marine, Inc. designs and markets lines of nautically-inspired apparel, gifts and decorative items for the home, office and boat.

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