By Sheri Kasprzak
New York, July 27 - Apollo Resources International, Inc. wrapped a $5 million private placement.
The company sold 13,157,895 shares to one investor for $0.38 each.
The investor received warrants for 16,447,369 shares, exercisable at $0.38 each for five years.
Proceeds will be used for working capital.
Apollo Resources, based in Dallas, is an oil and natural gas exploration company.
| Issuer: | Apollo Resources International, Inc.
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| Issue: | Stock
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| Amount: | $5 million
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| Shares: | 13,157,895
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| Price: | $0.38
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| Warrants: | For 16,447,369 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.38
|
| Settlement date: | July 25
|
| Stock symbol: | OTCBB: AOOR
|
| Stock price: | $0.42 at close July 25
|
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