Published on 6/10/2008 in the Prospect News PIPE Daily.
New Issue: Empyrean Energy settles £4.48 million private placement of stock
By Devika Patel
Knoxville, Tenn., June 10 - Empyrean Energy plc said it completed a £4.48 million private placement of shares through broker HB Corporate.
The company sold 8,969,976 ordinary shares at 50p apiece.
Proceeds will be used to further develop the gas condensate discovery at the company's Sugarloaf project.
Based in London, Empyrean is an oil and natural gas exploration and development company.
Issuer: | Empyrean Energy plc
|
Issue: | Ordinary shares
|
Amount: | £4,484,988
|
Shares: | 8,969,976
|
Price: | 50p
|
Warrants: | No
|
Broker: | HB Corporate
|
Settlement date: | June 10
|
Stock symbol: | London: EME
|
Stock price: | 56p at close June 9
|
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