By Sheri Kasprzak
New York, Oct. 4 - Torque Energy Inc. said it has negotiated a private placement for up to C$2 million.
The deal includes up to 20 million shares at C$0.10 each.
Proceeds will be used for the repayment of outstanding debt.
Based in London, Ont., Torque is an oil and natural gas exploration company.
| Issuer: | Torque Energy Inc.
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| Issue: | Stock
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| Amount: | C$2 million (maximum)
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| Shares: | 20 million (maximum)
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| Price: | C$0.10
|
| Warrants: | No
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| Pricing date: | Oct. 4
|
| Stock price: | C$0.20 at close Oct. 4
|
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