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CBM Asia proceeds with C$3.8 million non-brokered private placement


Published Nov 28, 2013
CBM Asia Development Corp.

CBM Asia Development Corp. sold a total of 12,120,000 common shares at a price of C$0.10 per share for gross proceeds of C$1,212,000 under its C$5.0 million non-brokered private placement announced on July 26, 2013.

Accordingly, the Company is seeking to raise a further C$3.8 million on or before December 31, 2013 through the sale of an additional 38,000,000 common shares at a price of C$0.10 per share to fund production wells and/or further exploration and development costs associated with its coalbed methane production sharing contracts in Indonesia as well as general corporate and working capital expenses.

Tags: CBM Asia Development Corp.




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