By Sheri Kasprzak
New York, Jan. 12 - China Natural Gas, Inc. said it has concluded a private placement for $5.38 million.
The company sold 1,921,428 units at $2.80 each to four accredited investors.
The investors received warrants for 523,055 shares, exercisable at $3.60 each for three years.
New York Global Securities was the placement agent.
Based in Shaanxi, China, China Natural Gas is a natural gas exploration company.
| Issuer: | China Natural Gas, Inc.
|
| Issue: | Units of stock and warrants
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| Amount: | $5.38 million
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| Units: | 1,921,428
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| Price: | $2.80
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| Warrants: | For 523,055 shares
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| Warrant expiration: | Three years
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| Warrant strike price: | $3.60
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| Placement agent: | New York Global Securities
|
| Settlement date: | Jan. 9
|
| Stock symbol: | OTCBB: CHNG
|
| Stock price: | $3.70 at close Jan. 9
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