EFL Overseas raises $50,000 through private placement of common shares

Gas explorer offers 41,668 shares at $1.20 apiece, a 47.83% discount

By Devika Patel

Knoxville, Tenn., July 24 - EFL Overseas, Inc. settled a $50,000 private placement of stock on July 10, according to an 8-K filed Tuesday with the Securities and Exchange Commission.

The company sold 41,668 common shares at $1.20 apiece. The per-share price represents a 47.83% discount to the July 9 closing share price of $2.30.

The gas explorer is based in Houston.

Issuer:	EFL Overseas, Inc.
Issue:	Common stock
Amount:	$50,000
Shares:	41,668
Price:	$1.20
Warrants:	No
Settlement date:	July 10
Stock symbol:	OTCBB: EFLO
Stock price:	$2.30 at close July 9
Market capitalization:	$15.3 million

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