By Devika Patel
Knoxville, Tenn., Nov. 24 - Alamo Energy Corp. will raise $2 million from a private placement of senior secured convertible promissory notes, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company took in $334,905 on Nov. 18.
The notes are convertible into common stock at $0.50 per share.
The investors also received 334,905 warrants, which are exercisable at $1.00 for three years.
Alamo Energy is a private oil and gas company in Houston.
| Issuer: | Alamo Energy Corp.
|
| Issue: | Senior secured convertible promissory notes
|
| Amount: | $2 million
|
| Price: | Par
|
| Conversion price: | $0.50
|
| Warrants: | 334,905
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $1.00
|
| Settlement date: | Nov. 18 (for $334,905)
|
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