Verisante Technology said it has raised C$350,000 ($310,000) in a non-brokered private placement.

The placement, from unidentified Chinese investors, consisted of 2.5 million common shares at a price of C$.14 per share.

With this placement, the Chinese group has now invested C$650,000 of the C$2.15 million they have agreed to put into Verisante over the next 24 months as per an agreement between the two parties.

The money will be used for working capital requirements, Verisante said.

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