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BRIEF-IOU Financial announces private placement of up to $3.5 million

May 1 Iou Financial Inc:

* IOU Financial announces private placement of up to $3.5 million

* IOU Financial Inc- intends to complete a private placement of up to 17.5 million common shares of company at a price of $0.20 per offered share

* IOU Financial Inc- up to $1.5 million of offering will brokered by Haywood Securities Inc, remaining portion of offering will be non-brokered

* IOU Financial-net proceeds of offering will be used primarily by co to finance small business loans in co's target markets of United States and Canada Source text for Eikon: Further company coverage:

我们的标准: 汤森路透“信任原则

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