Energy Exploration plans to raise $10 million in series of private placements

By Sheri Kasprzak

Atlanta, April 27 - Energy Exploration Technologies Inc. said it plans to raise $10 million in a series of private placements over the next year to 18 months.

The details of the offerings have not yet been determined, but a statement from the company said the first phase of the financing is expected to wrap up early in the third quarter.

Based in Calgary, Alta., Energy Exploration is an oil and natural gas exploration company. The proceeds from the deal will be used for the company's corporate strategy for asset diversification in Canada and internationally.

When the deal was announced April 26, the company's stock closed up $0.01 at $1.68.

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