Proceeds slated for project acquisitions, general working capital
By Toni Weeks
San Diego, May 15 - Independence Energy Corp. said it has completed a $125,000 private placement of shares.
The company sold 50,000 restricted common shares at a deemed price of $2.50 per share.
"This round of financing, like our previous funding, was closed at current market prices without discount and without any net dilution to our current stock holders," chief executive officer and president Gregory C. Rotelli said in a press release.
Proceeds will be used for potential project acquisitions, general working capital and other company purposes.
The Seal Beach, Calif., energy company is building a portfolio of proven oil and natural gas assets.
| Issuer: | Independence Energy Corp.
|
| Issue: | Restricted common shares
|
| Amount: | $125,000
|
| Shares: | 50,000
|
| Price: | $2.50
|
| Warrants: | No
|
| Settlement date: | May 15
|
| Stock symbol: | OTCBB: IDNG
|
| Stock price: | $2.55 at close May 14
|
| Market capitalization: | $58.08 million
|
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