Gulf United Energy (fka GLFE)

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GLFE~$25 Million Equity Financing 30 CENTS PER SHARE

GLFE is pleased to announce the closing of a $25 million private placement, consisting of the sale of approximately 83 million shares of common stock to seven institutional investors at a purchase price of $0.30 per share. Pritchard Capital Partners, LLC acted as the exclusive placement agent in connection with the private placement.
The Company intends to use the proceeds from the financing to fund its exploration activities in Colombia and Peru and for general working capital purposes.
John B. Connally III, Gulf United’s Chairman and Chief Executive Officer, commented, “The closing of this funding represents a big step forward for Gulf United Energy, and provides us with the operational and financial flexibility to drive Gulf United Energy through its next phase of drilling and corporate development.”

http://gulfunitedenergy.com/news/gulf-united-energy-announces-closing-of-25-million-equity-financing/