American Energy seals $6.08 million of $8.23 million units placement

Company sells units of shares, warrants to investors at $0.50 each

By Devika Patel

Knoxville, Tenn., Feb. 23 - American Energy Fields, Inc. completed a second tranche of a private placement of units on Feb. 18, according to an 8-K filed Wednesday with the Securities and Exchange Commission. It raised $6.08 million in this tranche and had previously raised $2.15 million on Dec. 29 for a total of $8.23 million.

The company sold 12,159,950 units of one common share and one warrant at $0.50 apiece in the latest closing. It had previously sold 4,300,833 units.

Each warrant is exercisable at $0.50 for five years.

Apache Junction, Ariz.-based American Energy is a private natural energy resources company.

Issuer:	American Energy Fields, Inc.
Issue:	Units of one common share and one warrant
Amount:	$8,230,392
Units:	16,460,783
Price:	$0.50
Warrants:	One warrant per unit
Warrant expiration:	Five years
Warrant strike price:	$0.50
Settlement date:	Dec. 29 (for $2,150,417), Feb. 18 (for $6,079,975)

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