Oil Investing News » Suroco Energy Inc. Announces Proposed $10 Million Private Placement

Suroco Energy Inc. Announces Proposed $10 Million Private Placement

September 9, 2010 @ 3:38 pm In Oil Company 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.

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 ^[1]

Click here to access Suroco Energy Inc. Corporate Site ^[2]

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URLs in this post:

[1] Click here to access the entire press release: http://www.marketwire.com/press-release/Suroco-Energy-Inc-Announces-Proposed-10-Million-Private-Placement-TSX-VENTURE-SRN-1316062.htm

[2] Click here to access Suroco Energy Inc. Corporate Site: http://www.suroco.com/