Agreement reached with AGS Capital Group to enable company's growth
By Devika Patel
Knoxville, Tenn., June 3 - Artemis Energy Holdings, Inc. said it has arranged a $25 million reserve equity financing facility with AGS Capital Group, LLC.
Proceeds will enable growth.
"The reserve equity financing is a long-term strategic financing partnership that places Artemis in control of how and when we raise equity, minimizing any potential dilution or disruption to our capital structure," co-founder and senior vice president Robert Nash said in a press release. "Artemis has the discretion to periodically sell common shares at a discount to the market when the prices are attractive to us. That means we decide when the funds are raised and how the funds are utilized.
"Adding AGS Capital Group as a long-term partner reduces financing uncertainty, so we can better focus on achieving our business objectives. The $25 million equity financing provides us with sufficient capital to continue to accelerate our current locations and anticipated acquisitions of additional food/gas/beverage businesses under Travel Center Partners, Inc., a subsidiary of Artemis, based in Bluffton/Hilton Head, SC."
The real estate development company is based in Mount Pleasant, S.C.
| Issuer: | Artemis Energy Holdings, Inc.
|
| Issue: | Reserve equity financing agreement
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| Amount: | $25 million
|
| Warrants: | No
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| Investor: | AGS Capital Group, LLC
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| Settlement date: | June 3
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| Stock symbol: | OTCBB: ARTT
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| Stock price: | $0.14 at close May 31
|
| Market capitalization: | $43.87 million
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