By Laura Lutz
Des Moines, Aug. 13 - CanArgo Energy Corp. completed a $2.5 million private placement of stock.
The company sold 2.5 million shares to three investors for $1.00 per share.
The investors also received warrants for 5 million shares, exercisable at $1.00 per share until Aug. 31, 2009.
CanArgo is an oil and gas exploration and production company based in Guernsey, Channel Islands.
| Issuer: | CanArgo Energy Corp.
|
| Issue: | Stock
|
| Amount: | $2.5 million
|
| Shares: | 2.5 million
|
| Price: | $1.00
|
| Warrants: | For 5 million shares
|
| Warrant expiration: | Aug. 31, 2009
|
| Warrant strike price: | $1.00
|
| Announcement date: | Aug. 13
|
| Stock symbol: | Amex: CNR
|
| Stock price: | $0.83 at close Aug. 13
|
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