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.

For the full release, click here.

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