Company sells units of shares, warrants to investors at $0.50 each
By Devika Patel
Knoxville, Tenn., March 7 - American Energy Fields, Inc. said it completed a private placement of units. It raised $6.08 million on Feb. 18 and $2.15 million on Dec. 29. The company raised a total of about $18 million.
The company sold about 36 million units of one common share and one warrant at $0.50 per unit.
Each warrant is exercisable at $0.50 for five years. The strike price represents a 35.9% discount to the Dec. 28 closing share price of $0.78.
Apache Junction, Ariz.-based American Energy is a private natural energy resources company.
| Issuer: | American Energy Fields, Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $18 million (approximate)
|
| Units: | 36 million (approximate)
|
| Price: | $0.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.50
|
| Settlement dates: | Dec. 29 (for $2,150,417), Feb. 18 (for $6,079,975), March 7
|
| Stock symbol: | OTCBB: AEFI
|
| Stock price: | $0.78 at close Dec. 29
|
| Market capitalization: | $70.32 million
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