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Suroco Energy Inc. Announces Proposed $10 Million Private Placement
Sep. 09, 2010 04:38PM PST
Resource Investing News Suroco Energy Inc. (CVE:SRN) announced that it intends to issue, on a non-brokered private placement basis, up to 22,222,222 common shares of the Corporation at a price of $0.45 per share for gross proceeds of up to approximately $10,000,000.
Suroco Energy Inc. (TSXV:SRN) announced that it intends to issue, on a non-brokered private placement basis, up to 22,222,222 common shares of the Corporation at a price of $0.45 per share for gross proceeds of up to approximately $10,000,000.
The press release is quoted as saying:
It is anticipated that the net proceeds of the Private Placement will be used by the Corporation for development and exploration drilling in Colombia and for general corporate purposes.
Click here to access the entire press release
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