Company sells 50,000 shares at $1.00 each, an 81.82% premium, in deal
By Devika Patel
Knoxville, Tenn., Feb. 7 - Great East Energy Inc. completed a $50,000 private placement of stock on Oct. 8, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 50,000 common shares at $1.00 per share. The price per share is an 81.82% premium to the closing share price on Feb. 4, $0.55.
The Warrenton, Va., company plans to launch and maintain an online social network for start-ups in high-tech industry.
| Issuer: | Great East Energy Inc.
|
| Issue: | Common stock
|
| Amount: | $50,000
|
| Shares: | 50,000
|
| Price: | $1.00
|
| Warrants: | No
|
| Announcement date: | Feb.7
|
| Settlement date: | Feb. 5
|
| Stock symbol: | OTCBB: GASE
|
| Stock price: | $0.55 at close Feb. 4
|
| Market capitalization: | $34.05 million
|
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