Published on 7/7/2010 in the Prospect News PIPE Daily.
New Issue: AsherXino secures $35 million equity line of credit through Dutchess
By Devika Patel
Knoxville, Tenn., July 7 - AsherXino Corp. said it arranged a $35 million equity line with Dutchess Opportunity Fund, II, LP.
Dutchess has committed to purchase up to $35 million of the company's common shares at a 5% discount to the lowest daily volume weighted average price of the company's common shares over a five-day trading period following the drawdown notice.
Based in Houston, AsherXino is an international oil and gas exploration and production company.
| Issuer: | AsherXino Corp.
|
| Issue: | Equity line
|
| Amount: | $35 million
|
| Price: | 5% discount
|
| Warrants: | No
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| Investor: | Dutchess Opportunity Fund, II, LP
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| Pricing date: | July 7
|
| Stock symbol: | OTCBB: AXNO
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| Stock price: | $0.19 at close July 6
|
| Market capitalization: | $15.7 million
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