Deal sells 202,778 shares, warrants to Pacific Oil & Gas Investments
By Devika Patel
Knoxville, Tenn., Jan. 24 - Great American Energy Inc. settled a $182,500 private placement of units with Pacific Oil & Gas Investments Ltd. on Jan. 21, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 202,778 units of one common share and one warrant at $0.90 per unit. Each warrant is exercisable at $1.30. The strike price reflects a 36.84% premium to the Dec. 22 closing share price of $0.95.
The mineral exploration and development company is based in Denver.
| Issuer: | Great American Energy Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $182,500
|
| Units: | 202,778
|
| Price: | $0.90
|
| Warrants: | One warrant per unit
|
| Warrant strike price: | $1.30
|
| Investor: | Pacific Oil & Gas Investments Ltd.
|
| Announcement date: | Jan. 24
|
| Settlement date: | Jan. 21
|
| Stock symbol: | OTCBB: SRBL
|
| Stock price: | $0.95 at close Dec. 22
|
| Market capitalization: | $84.39 million
|
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