By Sheri Kasprzak
New York, April 10 - Empire Petroleum Corp. sealed a $1 million private placement.
The company sold to nine accredited investors 5 million shares at $0.20 each.
The investors also received warrants for 1.25 million shares, exercisable at $0.50 each for one year.
Empire, based in Tulsa, Okla., is an oil and natural gas exploration company.
| Issuer: | Empire Petroleum Corp.
|
| Issue: | Stock
|
| Amount: | $1 million
|
| Shares: | 5 million
|
| Price: | $0.20
|
| Warrants: | For 1.25 million shares
|
| Warrant expiration: | One year
|
| Warrant strike price: | $0.50
|
| Settlement date: | April 4
|
| Stock symbol: | OTCBB: EMPR
|
| Stock price: | $0.22 at close April 4
|
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