Company sells common shares at $0.20 each to fund operating capital
By Devika Patel
Knoxville, Tenn., Dec. 5 - American Energy Group, Ltd. said it took in $180,000 in a private placement of stock.
The company sold 900,000 common shares at $0.20 apiece. The price per share is a 20% discount to $0.25, the Dec. 4 closing share price.
Proceeds will be used for general and administrative operating capital and legal expenses.
Based in Westport, Conn., The American Energy Group is an oil and natural gas drilling and exploration company.
| Issuer: | American Energy Group, Ltd.
|
| Issue: | Common stock
|
| Amount: | $180,000
|
| Shares: | 900,000
|
| Price: | $0.20
|
| Warrants: | No
|
| Settlement date: | Dec. 5
|
| Stock symbol: | OTCBB: AEGG
|
| Stock price: | $0.25 at close Dec. 4
|
| Market capitalization: | $11.76 million
|
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