By Sheri Kasprzak
New York, Feb. 2 - Baseline Oil & Gas Corp. said it has settled a private placement for $9 million.
The company issued 8,181,819 shares at $1.10 each.
C.K. Cooper & Co. and Gilford Securities Inc. were the placement agents.
Proceeds will be used to fund the company's 50% share of the $7 million purchase price of oil and gas leases in the New Albany Shale play the company agreed to buy from Aurora Energy, Ltd. The rest will be used for working capital.
San Antonio-based Baseline is an oil and natural gas exploration company.
| Issuer: | Baseline Oil & Gas Corp.
|
| Issue: | Stock
|
| Amount: | $9 million
|
| Shares: | 8,181,819
|
| Price: | $1.10
|
| Warrants: | No
|
| Placement agents: | C.K. Cooper & Co. and Gilford Securities Inc.
|
| Settlement date: | Feb. 2
|
| Stock symbol: | OTCBB: BOGA
|
| Stock price: | $2.50 at close Feb. 2
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
