Wescorp Energy plans $1.25 million private placement of convertibles

By Sheri Kasprzak

Atlanta, Feb. 17 - Wescorp Energy Inc. said it will raise $1.25 million in a private placement of convertible securities.

Additional details on the offering were not available Thursday, according to Dan Graithman of the company's investor relations department.

"It was just announced today, so I really don't have any other details," Graithman said in an interview.

Based in Edmonton, Alta., Wescorp is an oil and gas technology company. The company plans to use the proceeds from the deal to increase inventory for FlowStar's DCR Series Electronic Flow Measurement Solutions. The remainder will be used to fund the growth of the company.

On Thursday, Wescorp's stock closed up $0.10 at $1.25.

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