Company sells 23,480,004 common shares at $0.05 per share in offering
By Devika Patel
Knoxville, Tenn., Dec. 5 - Texas South Energy, Inc. settled a $1.17 million private placement of stock on Dec. 2, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 23,480,004 common shares at $0.05 per share. The price per share reflects a 78.26% discount to the Nov. 29 closing share price of $0.23.
Proceeds will be used for general corporate purposes.
The energy company is based in Houston.
| Issuer: | Texas South Energy, Inc.
|
| Issue: | Common stock
|
| Amount: | $1,174,000
|
| Shares: | 23,480,004
|
| Price: | $0.05
|
| Warrants: | No
|
| Settlement date: | Dec. 2
|
| Stock symbol: | OTCBB: INKAD
|
| Stock price: | $0.23 at close Nov. 29
|
| Market capitalization: | $5.52 million
|
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