By Sheri Kasprzak
New York, March 2 - John D. Oil and Gas Co. said it has concluded a $1.1 million private placement with the Richard M. Osborne Trust and Terence P. Coyne.
The company issued 2.2 million shares to the trust, which is operated by Richard Osborne, the company's chief executive officer, and Coyne, a new director of the company.
The trust purchased 2 million of the shares and Coyne purchased the rest.
Based in Cleveland, John D. Oil is an oil and natural gas exploration and production company.
| Issuer: | John D. Oil and Gas Co.
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| Issue: | Stock
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| Amount: | $1.1 million
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| Shares: | 2.2 million
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| Price: | $0.50
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| Warrants: | No
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| Investors: | The Richard M. Osborne Trust and Terence P. Coyne
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| Settlement date: | Feb. 28
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| Stock symbol: | OTCBB: JDOG
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| Stock price: | $0.65 at close Feb. 28
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