By Laura Lutz
Des Moines, Aug. 15 - True North Energy Corp. closed a third round of its equity financing with a private placement of 350,000 units, bringing the total offering to $2 million, according to a company release.
The company sold the units, which consisted of one share and one share purchase warrant, for $350,000. It did not announce the terms of the warrants.
The proceeds will be used to finance the company's continued oil and gas well participation efforts.
True North Energy is a Houston-based oil and gas exploration company.
Issuer: | True North Energy Corp.
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Issue: | Units of one share and one share warrant
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Amount: | $350,000
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Price: | $1.00
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Units: | 350,000
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Warrants: | One per unit
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Settlement date: | Aug. 15
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Stock symbol: | OTCBB: TNEN
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Stock price: | $3.28 at close on Aug. 14
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