Comtrax Logistics Solutions Inc., the company behind a proposed commercial commodities hub along the CP Rail Soo Line near Weyburn, is touting its initial private placement of shares as a success. The company, which had a goal of raising $500,000 through the offering, oversubscribed.

Mark Bratrud is the president of Comtrax. He said he was pleased to see the enthusiasm and support from the initial investors, considering there was little detail available at the time of the offering. He explained things will be a little different the next time an offering is made.

“The next one, we’re hoping, will be easier because it will be a lot more clearly defined on what the whole plan is; who might be involved with it and what the financial picture may look like,” Bratrud told Discover Weyburn.

The money raised will be used to further the development of the project, as well as get the complete business plan wrapped up. Comtrax will also continue negotiations with CP Rail about a service agreement for the proposed hub.