Published on 9/25/2008 in the Prospect News PIPE Daily.
New Issue: Crown Oil and Gas seals $5.66 million private placement of units
By Devika Patel
Knoxville, Tenn., Sept. 25- Crown Oil and Gas Inc. wrapped a $5.66 million private placement of units on Sept. 24, according to an 8-K filed Thursday with the Securities and Exchange Commission,
The company sold 5,655,000 units at $1.00 each. The units consist of one common share and one warrant. Each whole two-year warrant is exercisable at $1.50 for the first year and at $2.00 thereafter.
Crown is based in Seattle.
| Issuer: | Crown Oil and Gas Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $5,655,000
|
| Units: | 5,655,000
|
| Price: | $1.00
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $1.50 for the first year, $2.00 thereafter
|
| Settlement date: | Sept. 24
|
| Stock symbol: | OTCBB: CWOI
|
| Stock price: | $1.25 at close Sept. 24
|
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