New Issue: Cano Petroleum wraps $10.78 million private placement of shares

By Sheri Kasprzak

New York, Sept. 15 - Cano Petroleum, Inc. has closed a $10,779,996 private placement.

The company sold 2,603,864 shares at $4.14 each, the company's closing stock price on Sept. 13.

The proceeds from the offering will be used for general corporate purposes and working capital.

Based in Forth Worth, Texas, Cano is an oil and natural gas exploration company.

Issuer:	Cano Petroleum, Inc.
Issue:	Stock
Amount:	$10,779,996
Shares:	2,603,864
Price:	$4.14
Warrants:	No
Settlement date:	Sept. 13
Stock price:	$4.14 at close Sept. 13

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