American Energy offers details on $18.07 million placement of units

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

By Devika Patel

Knoxville, Tenn., March 8 - American Energy Fields, Inc. gave further details about a private placement of units, which settled on March 4, in an 8-K filed Tuesday with the Securities and Exchange Commission. It raised $18.07 million in all.

Among the various closings, the company raised $6.08 million on Feb. 18 and $2.15 million on Dec. 29, along with $5.85 million raised in the latest tranche.

Overall, the company sold 36,140,763 units of one common share and one warrant at $0.50 apiece.

Each warrant is exercisable at $0.50 for five years. The strike price represents a 35.9% discount to the Dec. 28 closing share price of $0.78.

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:	$18,070,382
Units:	36,140,763
Price:	$0.50
Warrants:	One warrant per unit
Warrant expiration:	Five years
Warrant strike price:	$0.50
Settlement dates:	Dec. 29 (for $2,150,417), Feb. 18 (for $6,079,975), March 4 (for $5,844,990)
Stock symbol:	OTCBB: AEFI
Stock price:	$0.78 at close Dec. 29
Market capitalization:	$69.78 million

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.