RAMTelecom Inc. plans to issue up to 2,444,444 common shares in a non-brokered private placement to expand North American operations. The satellite service provider says it would set a price of $0.45 per share, and that it will use the net proceeds to “purchase a new hub located in the United States, to upgrade its Canadian network, and for general working capital.” The company will pay a finder’s fee of 7% of the gross proceeds received under the private placement. In February, RamTelecom revealed that it was being acquired by the Canadian division of Houston, Texas-based SkyPort Global Communications. SkyPort will make a cash purchase of all issued and outstanding common shares of RAMTelecom at $0.60 per share, and give holders of outstanding share options and warrants $.10 and $0.4 cents respectively to relinquish their entitlement. “The acquisition of the RAMTelecom enterprise will provide a more comprehensive offering for SkyPort and reach into Canada as we build out our worldwide coverage,” said SkyPort co-chief executive Bill Hutchinson. “There is a distinct benefit for SkyPort clients who have global and North American requirements.” The deal is expected to be finalized by the end of June upcoming.