By Laura Lutz
Des Moines, Nov. 28 - Tamm Oil and Gas Corp. raised $1 million from the first tranche of a private placement of units, according to an 8-K filing with the Securities and Exchange Commission.
The company sold 800,000 units of one share and one warrant at $1.25 per unit. Each whole warrant will be exercisable at $1.75 until Nov. 23, 2009.
In total, the placement is expected to include up to 2.6 million units.
Calgary, Alta.-based Tamm is an oil and gas exploration and development company.
| Issuer: | Tamm Oil and Gas Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | $3.25 million
|
| Units: | 2.6 million
|
| Price: | $1.25
|
| Warrants: | One per unit
|
| Warrant expiration: | Nov. 23, 2009
|
| Warrant strike price: | $1.75
|
| Settlement date: | Nov. 23 (for $1 million)
|
| Stock symbol: | OTCBB: TAMO
|
| Stock price: | $2.35 at close Nov 23
|
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