Published on 3/20/2008 in the Prospect News PIPE Daily.
New Issue: Crown Oil and Gas wraps $5.05 million private placement of units
By Devika Patel
Knoxville, Tenn., March 20- Crown Oil and Gas Inc. said it settled a $5.05 million private placement of units.
The company sold 5.05 million 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: | $5.05 million
|
| Units: | 5.05 million
|
| 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: | March 17
|
| Stock symbol: | OTCBB: CWOI
|
| Stock price: | $1.25 at close March 19
|
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