Published on 4/4/2011 in the Prospect News PIPE Daily.
EnerJex Resources publicizes $3.41 million private placement of stock
Company heralds offering of common stock, warrants at $0.60 per share
By Devika Patel
Knoxville, Tenn., April 4 - EnerJex Resources, Inc. said it completed a $3.41 million private placement of stock.
The company sold 5,676,644 common shares. The purchase price, of $0.60 per share, reflects a 29.41% discount to the $0.85 closing share price on April 1.
Investors also received warrants for 2,838,322 shares, each exercisable at $0.90 until Dec. 31, 2011. The strike price reflects a 5.88% premium to the April 1 closing share price.
EnerJex is an oil and natural gas exploration and development company based in Overland Park, Kan.
| Issuer: | EnerJex Resources, Inc.
|
| Issue: | Common stock
|
| Amount: | $3,405,986
|
| Shares: | 5,676,644
|
| Price: | $0.60
|
| Warrants: | For 2,838,322 shares
|
| Warrant expiration: | Dec. 31, 2011
|
| Warrant strike price: | $0.90
|
| Settlement date: | April 4
|
| Stock symbol: | OTCBB: ENRJ
|
| Stock price: | $0.85 at close April 1
|
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