By Sheri Kasprzak
New York, Jan. 26 - Empyrean Energy plc completed a private placement for £5 million.
The company sold 14,285,715 shares at 35p each in institutional investors in the United Kingdom and Europe.
HB Corporate was the placement agent for the deal.
Proceeds will be used for exploration on the Glantal gas project in Germany, testing of oil shows in the Californian Eagle oil project, testing of gas shows at Sugarloaf, Texas, and ongoing drilling at Margarita, Texas.
Based in London, Empyrean is an oil and natural gas exploration and development company.
| Issuer: | Empyrean Energy plc
|
| Issue: | Stock
|
| Amount: | £5 million
|
| Shares: | 14,285,715
|
| Price: | 35p
|
| Warrants: | No
|
| Placement agent: | HB Corporate
|
| Settlement date: | Jan. 26
|
| Stock symbol: | London: EME
|
| Stock price: | 43.98p at close Jan. 26
|
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