Boothbay Royalty buys secured promissory notes, 400,000 common shares
By Devika Patel
Knoxville, Tenn., April 20 - Osage Exploration and Development Inc. settled a $2.5 million private placement of 18% secured promissory notes with Boothbay Royalty Co. on April 17, according to an 8-K filed Friday with the Securities and Exchange Commission.
The note is due April 17, 2013.
Boothbay also received 400,000 common shares; a 1.5% overriding royalty on the company's leases in section 29, township 17 North, range 3 in Logan County, Okla.; and a 1.7143% overriding royalty on its leases in section 36, township 19 North, range 4 West in Logan County, Okla.
Osage is an oil and gas exploration company in San Diego.
| Issuer: | Osage Exploration and Development Inc.
|
| Issue: | Secured promissory notes, 400,000 common shares
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| Amount: | $2.5 million
|
| Maturity: | April 17, 2013
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| Coupon: | 18%
|
| Warrants: | No
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| Investor: | Boothbay Royalty Co.
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| Settlement date: | April 17
|
| Stock symbol: | OTCBB: OEDV
|
| Stock price: | $1.15 at close April 16
|
| Market capitalization: | $52.77 million
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