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Jericho Oil to raise $6.929 million in private placement


Published Dec 31, 2015
Jericho Oil Corporation

Jericho Oil Corporation is proceeding with a non-brokered private placement (the "Offering") of approximately 17,323,610 units at a price of $0.40 per unit to raise total gross proceeds of approximately $6.929 million.

Each unit will be comprised of one common share (a "Share") and one half warrant (a "Warrant") with each full Warrant being exercisable into one additional Share at a price of $0.60 per Share for a period of two years from closing.

Proceeds of the Offering will be used immediately towards the acquisition of producing wells and prospective acreage in central Oklahoma, outlined by the Company in news releases on October 19, 2015 and November 23, 2015.

Tags: Jericho Oil Corporation




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