Published on 5/7/2013 in the Prospect News PIPE Daily.
Norstra Energy settles $180,000 private placement of 10% convertibles
Secured promissory note due 2015 sold to Jackson Bennett in offering
By Devika Patel
Knoxville, Tenn., May 7 - Norstra Energy, Inc. sold a $180,000 convertible secured promissory note to Jackson Bennett, LLC on April 25, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The 10% note matures in 2015 and is convertible into common shares at $0.50 per share, a 16.67% discount to the April 24 closing share price of $0.60.
The oil and gas explorer is based in Laredo, Texas.
Issuer: | Norstra Energy, Inc.
|
Issue: | Convertible secured promissory note
|
Amount: | $180,000
|
Maturity: | April 25, 2015
|
Coupon: | 10%
|
Conversion price: | $0.50
|
Warrants: | No
|
Investor: | Jackson Bennett, LLC
|
Settlement date: | April 25
|
Stock symbol: | OTCBB: NORX
|
Stock price: | $0.60 at close April 24
|
Market capitalization: | $54.58 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.