Dominovas Energy plans $10 million placement of stock with warrants

Company raises funds for working capital via investment bank Pyrenees

By Devika Patel

Knoxville, Tenn., July 27 – Dominovas Energy Corp. said it will raise up to $10 million on a best-efforts basis in a private placement of common stock and warrants.

Settlement is expected by the end of the third quarter.

The sale will be prepared by the company’s investment bank, Pyrenees Investments, LLC.

Proceeds will be used for working capital and other general corporate purposes.

“As a company, we are quickly graduating from a typical micro-cap company’s reliance on the use of potentially toxic forms of convertible debt and equity-based financing. Conversely, financing structures involving common shares with warrants align the interests of investors more closely to those of the company,” senior vice president of finance and investments Eric Fresh said in a press release.

The oil and gas explorer is based in Atlanta.

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