Suroco Energy Inc. Announces Closing of $13.2 Million Private Placement

Suroco Energy Inc. (TSXV:SRN) announced it has completed the previously announced non-brokered private placement of common shares.

The press release is quoted as saying:

The Shares issued pursuant to this Private Placement are subject to a hold period and may not be sold or otherwise traded on or through the facilities of the TSX Venture Exchange or otherwise in Canada or to or for the benefit of a Canadian resident until January 28, 2011. The Corporation intends to use the net proceeds of the Private Placement to fund its exploration and appraisal activities in Colombia and for general corporate purposes. The Corporate has paid a finder’s fee in the amount of $445,360, in connection with subscriptions of $9,375,990 under the Private Placement.

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