Rockdale Resources to sell $225,000 of units through private placement

Offering sells units of 33,334 shares and a warrant for 33,334 shares

By Devika Patel

Knoxville, Tenn., Feb. 20 - Rockdale Resources Corp. negotiated a private placement of units to raise about $225,000 on Feb. 16, according to an 8-K filed Thursday with the Securities and Exchange Commission.

The company will sell 22.5 units of 33,334 common shares and a warrant for 33,334 shares at $10,000.20 per unit. Each warrant is exercisable at $0.75 until Aug. 5, 2019. The strike price is a 50% discount to the Feb. 14 closing share price of $0.50.

Rockdale is an oil and gas exploration company in Austin, Texas.

Issuer:	Rockdale Resources Corp.
Issue:	Units of 33,334 common shares and a warrant for 33,334 shares
Amount:	$225,000 (approximate)
Units:	22.5
Price:	$10,000.20
Warrants:	One warrant for 33,334 shares per unit
Warrant expiration:	Aug. 5, 2019
Warrant strike price:	$0.75
Pricing date:	Feb. 16
Stock symbol:	OTCBB: BBLS
Stock price:	$0.50 at close Feb. 14
Market capitalization:	$7.05 million

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