Pyramid Tops Up with Convertable Debenture
Reproduction
Mon, Mar 30, 2009
Post by Mike Rodger, Oil Reporter
Pyramid Petroleum Inc. today annouced that it is offering a covertible debenture with an interest rate starting at 12% convertible at $0.85 per share. Research Capital Corp. has been named the lead agent and will be targeting to raise between $15 and $20 million.
Proceeds are said to be used for development drilling, work-overs, acquisition of increased interest in working wells and working capital.
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