Fieldstone Industries purchases 250,000 common shares at $0.40 apiece
By Devika Patel
Knoxville, Tenn., Jan. 31 - Virtus Oil & Gas Corp. settled a $100,000 private placement of stock with Fieldstone Industries Inc. on Nov. 19, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 250,000 common shares at $0.40 per share, a 50% discount to the Jan. 30 closing share price of $0.80.
Proceeds will be used for general administrative purposes and acquisition costs.
The energy company is based in Los Angeles.
| Issuer: | Virtus Oil & Gas Corp.
|
| Issue: | Common shares
|
| Amount: | $100,000
|
| Shares: | 250,000
|
| Price: | $0.40
|
| Warrants: | No
|
| Investor: | Fieldstone Industries Inc.
|
| Announcement date: | Jan. 31
|
| Settlement date: | Nov. 19
|
| Stock symbol: | OTCBB: VOIL
|
| Stock price: | $0.80 at close Jan. 30
|
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