Deal sells 2 million common shares at $0.10 per share, a 400% premium
By Devika Patel
Knoxville, Tenn., Dec. 14 - Arkanova Energy Corp. concluded a $200,000 private placement of stock on Dec. 14, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 2 million common shares at $0.10 per share. The price per share reflects a 400% premium to the Dec. 13 closing share price of C$0.02.
Arkanova is resource exploration company based in The Woodlands, Texas.
Issuer: | Arkanova Energy Corp.
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Issue: | Common stock
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Amount: | $200,000
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Shares: | 2 million
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Price: | $0.10
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Warrants: | No
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Settlement date: | Dec. 14
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Stock symbol: | OTCBB: AKVA
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Stock price: | $0.02 at close Dec. 13
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Market capitalization: | $1.4 million
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