Company sells 250,000 common shares at $0.40 per share through deal
By Devika Patel
Knoxville, Tenn., June 17 – Omnitek Engineering Corp. completed a $100,000 private placement of stock on June 13, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 250,000 common shares at $0.40 apiece. The price per share is a 20% discount to the June 10 closing share price of $0.50.
Based in San Marcos, Calif., Omnitek develops and sells new natural gas engines, as well as a proprietary technology to convert any diesel engines to a natural gas engine.
| Issuer: | Omnitek Engineering Corp.
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| Issue: | Common shares
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| Amount: | $100,000
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| Shares: | 250,000
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| Price: | $0.40
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| Warrants: | No
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| Settlement date: | June 13
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| Stock symbol: | OTCBB: OMTK
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| Stock price: | $0.50 at close June 10
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| Market capitalization: | $8.59 million
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