By Devika Patel
Knoxville, Tenn., Jan. 17 - Jayhawk Energy, Inc. said it settled a $4 million private placement of units.
The company sold 2,666,667 units at $1.50 apiece. Each unit consists of one common share and one warrant. The warrants are exercisable at $1.60 for one year.
Proceeds will be used to finance the company's acquisition of the Candak property from Jed Oil (USA) Inc.
Jayhawk Energy is an oil and gas company based in Broomfield, Colo.
| Issuer: | Jayhawk Energy, Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $4 million
|
| Units: | 2,666,667
|
| Price: | $1.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | $1.60
|
| Settlement date: | Jan. 16
|
| Stock symbol: | OTCBB: JYHW
|
| Stock price: | $1.57 at close Jan. 16
|
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