Published on 8/26/2010 in the Prospect News PIPE Daily.
New Issue: Earth Energy takes in $1.49 million through private placement of units
By Devika Patel
Knoxville, Tenn., Aug. 26 - Earth Energy Reserves, Inc. settled a $1.49 million private placement of units on June 30, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 1,491,000 units at $1.00 apiece. Each unit consists of one common share and one warrant. Each warrant is exercisable at $1.50 for three years.
Estes Park, Colo.-based Earth Energy Reserves is a private energy company.
| Issuer: | Earth Energy Reserves, Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $1,491,000
|
| Units: | 1,491,000
|
| Price: | $1.00
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $1.50
|
| Settlement date: | June 30
|
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