New Issue: Energytec proceeds with private placement for up to $11.78 million

By Sheri Kasprzak

New York, Nov. 9 - Energytec, Inc. said it plans to continue with a previously announced private placement for up to $11,779,622.

The company intends to sell up to 4,283,499 shares at $2.75 each.

Energytec issued 766,656 shares to 21 investors in October at $2.80 each.

Dallas-based Energytec owns oil and natural gas leases, and operates oil services concerns.

Issuer:	Energytec, Inc.
Issue:	Stock
Amount:	$11,779,622
Shares:	4,283,499
Price:	$2.75
Warrants:	No
Announcement date:	Nov. 9
Stock price:	$3.25 at close Nov. 9

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