Company sells 2 million shares at $0.01 each, a 63.93% premium
By Susanna Moon
Chicago, Sept. 9 – Tierra Grande Resources Inc. completed a $20,000 private placement of stock on Aug. 27, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 2 million shares at a price of $0.01 per share to an offshore investor who acquired the securities for investment purposes.
The price per share is a 63.93% premium to the company’s last closing price July 21.
The company also issued 4.25 million shares to some of the company’s directors, officers and employees on Aug. 31.
Tierra Grande, formerly Buckingham Exploration Inc., is an exploration-stage company based in Vancouver, B.C.
| Issuer: | Tierra Grande Resources Inc.
|
| Issue: | Common stock
|
| Amount: | $20,000
|
| Shares: | 2 million
|
| Price: | $0.01
|
| Warrants: | No
|
| Settlement date: | Aug. 27
|
| Stock symbol: | OTCBB: CDYY
|
| Stock price: | $0.0061 at last close July 21
|
| Market capitalization: | $632,570
|
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