Global Agri-Med plans C$1 million placement to fund data evaluation

By Devika Patel

Knoxville, Tenn., Sept. 21 - Global Agri-Med Technologies, Inc. said it plans a C$1 million non-brokered private placement. The offering's details are still being finalized.

Proceeds will be used to evaluate and acquire 2D seismic trade data on the company's Meota and Westlock properties. In addition, the company will initiate a seismic program of its own to compliment the seismic data that it acquires.

"We are very excited to reach this landmark of having the necessary capital to achieve our intended goal," chief executive Fred DaSilva stated.

"Both the Meota and Westlock properties have proven potential and with this injection of capital, we can proceed with our geological assessment and confirmation on the commercial viability on the prospects, allowing the company to move forward."

The oil and gas company is based in Calgary, Alta.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.