Scandoil  

Longreach announces closing of $9,700,000 non-brokered private placement


Published Apr 14, 2014
Longreach in Morocco

Longreach Oil and Gas Limtited has closed a non-brokered private placement of units with investors for aggregate gross proceeds to the Company of $9,700,000 (the "Private Placement").

The subscription price per unit was $1,000 and each unit consisted of one 10% secured convertible debenture of the Company in the principal amount of $1,000 (collectively, the "Debentures") and 1,000 ordinary share purchase warrants (collectively, the "Warrants").

Net proceeds of the Private Placement will be used to support the ongoing drilling of the Company's Kamar well at Sidi Moktar and for general corporate and administrative purposes.

Tags: Longreach Oil and Gas Limited




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml