By Sheri Kasprzak
New York, May 30 - RedFork Energy Ltd. has settled a A$1.32 million private placement.
The company issued 6 million shares at A$0.22 each to an overseas fund as well as to professional and sophisticated investors.
The proceeds will be used to acquire a 22.5% working interest in RedFork's Osage County oil, gas and coal bed methane project.
The company has planned another A$165,000 private placement of 750,000 shares at A$0.22 each for working capital.
Based in Perth, Western Australia, RedFork is an oil and natural gas exploration company.
| Issuer: | RedFork Energy Ltd.
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| Issue: | Stock
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| Amount: | A$1.32 million
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| Shares: | 6 million
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| Price: | A$0.22
|
| Warrants: | No
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| Settlement date: | May 30
|
| Stock symbol: | Australia: RFE
|
| Stock price: | A$0.245 at close May 30
|
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