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Hongli Clean Energy Tech. (fka CETC)

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Last Post: 11/25/2020 9:34:16 AM - Followers: 21 - Board type: Free - Posts Today: 0

SinoCoking (SCOK) Closes $7 Million Private Placement

PINGDINGSHAN, Henan Province, China--(BUSINESS WIRE)--SinoCoking Coal and Coke Chemical Industries, Inc. (OTCBB symbol: SCOK) (the “Company” or “SinoCoking”) announced today that it closed a $7 million private placement equity financing on February 5, 2010, involving 34 high net-worth investors. The private placement was priced at $6.00 per unit, with each unit consisting of one share of common stock, and a warrant for the purchase of 0.5 shares of common stock with an exercise price of $12.00 per share.

“The proceeds of this financing will go directly towards funding our aggressive expansion of production capacity in order to meet current demand from our customers.”

SinoCoking is a significant supplier of the vital commodities of thermal and metallurgical coal and coke to industrial users such as power plants, steel mills, plant and factory operators and manufacturers in China. SinoCoking is a vertically-integrated processor that uses coal from both its own mines and that of third-party mines to provide basic and value-added coal products to its client base. SinoCoking currently holds mining rights for approximately 2.5 million tons of coal from mines located in the Henan Province in central China. SinoCoking began producing metallurgical coke in 2002, and since then has expanded its production to become an important supplier to regional steel producers in central China. For the year ending June 30, 2009, SinoCoking produced and sold 154,631 tons of coke, 55,360 tons of washed coal, and 72,923 tons of raw coal, and generated $51 million in revenue from sales consisting primarily of these products. During its 2009 fiscal year, SinoCoking had audited net income of approximately $17 million on a GAAP basis.

In the private placement, SinoCoking sold and issued $7,085,352 of its units at a purchase price of USD $6.00 per unit. The investor warrants are exercisable for a period of five years from the date of issuance. On the closing date, the Company issued a total of 1,180,892 shares of common stock, and warrants for the purchase of an additional 590,446 shares of common stock.

“We are pleased to announce this initial closing of our equity financing, which we consider to be an important first step following our debut as a U.S. public reporting company,” said Jinahua Lv, the CEO of SinoCoking. “The proceeds of this financing will go directly towards funding our aggressive expansion of production capacity in order to meet current demand from our customers.”

The securities in the private placement were issued as restricted securities exempt from registration, and were not issued in connection with any registration statement. The securities issued are subject to applicable restrictions on resale pursuant to Regulation S promulgated under the Securities Act of 1933.

#279   CETC, now HGLI registration revoked: Renee 11/25/20 09:34:16 AM
#278   CETC SEC Admin. Proceeding for severely delinquent Financials/Filings: Renee 09/19/18 09:56:06 AM
#277   P&D before delisting..haven't filed a 10-K in 18 months. wickerman 04/10/17 05:46:05 PM
#276   Th oooops i am still in Lets Hope europtiger 04/07/17 12:45:32 PM
#275   More to come imo europtiger 04/07/17 11:13:51 AM
#274   BOOM CETC $5'S AGAIN [SMART MONEY] 04/07/17 11:00:31 AM
#273   Bought the 3,40 dip europtiger 04/07/17 10:25:03 AM
#272   Ok, what's happening in here? richmathers 04/07/17 10:09:54 AM
#271   CETC bullish 4.20 stocktrademan 11/19/16 05:32:22 PM
#270   CETC bearish 3.5 stocktrademan 11/13/16 04:23:55 PM
#269   I am new to this one but this skwong 06/22/16 10:54:15 AM
#268   On watch not in yet. bigarow 06/21/16 08:52:25 AM
#267   $CETC low float china ready to rock beach_trades 06/20/16 11:45:33 PM
#266   Not much info on this stock. bigarow 05/25/16 07:46:57 AM
#265   Hongli.No news lately. bigarow 05/25/16 07:46:31 AM
#264   Chart looks ok. bigarow 05/25/16 07:45:59 AM
#263   With oil going up CETC might have a chance. bigarow 05/25/16 07:45:29 AM
#262   Any hope? bigarow 05/25/16 07:44:01 AM
#261   $CETC China Small Caps to waken next beach_trades 03/20/16 02:34:26 PM
#260   Must be done by now? swampboots 12/04/15 03:01:33 PM
#258   Can someone explain the jump back in September Buy and pray 07/18/15 05:43:12 PM
#257   NEWS layton 06/16/15 09:25:24 AM
#256   SinoCoking Coal (SCOK +17.1%) shoots higher on strong Timothy Smith 06/03/15 10:57:17 PM
#255   One good news and we will be at Fredster101 05/04/15 12:12:52 AM
#254   $SCOK Looking ready again beach_trades 05/03/15 09:06:03 PM
#253   sweet earnings ilovestocks85 02/12/15 04:59:39 PM
#252   SCOK NICE ONE VIC! [SMART MONEY] 01/23/15 10:49:03 AM
#250   I hope so. Volume dried up MynameisBuck 01/21/15 11:52:59 AM
#249   Gonna retest HOD soon cbrittpfs 01/21/15 10:50:17 AM
#248   $SCOK O/S 16 MIL>>INSIDERS OWN 33%=5MIL 11 MIL TRADEABLE. vegasvic 01/21/15 09:15:32 AM
#247   $SCOK, LIKE I BEEN SAYING...WOWZA HUGE NEWS OUT!!! vegasvic 01/21/15 08:34:49 AM
#246   Weeeeeeeeee!!! CashFlowApe 12/08/14 04:38:28 AM
#245   $SCOK, GONNA C A DOUBLE HERE EZ WITHIN vegasvic 12/06/14 02:23:51 PM
#244   $SCOK, NOT SO FAST MY FRIEND,, TIME WILL TELL!!!!!!!! vegasvic 12/06/14 02:19:30 PM
#243   GARBAGE STOCK! MONEYMADE 12/04/14 10:30:05 AM
#242   SinoCoking Begins Construction of Second Aboveground Syngas Facility; crudeoil24 12/04/14 09:30:11 AM
#241   Nice news this morning... stock_observer_77 12/04/14 07:58:48 AM
#240   Once it touches $3.00 the gap will close. CashFlowApe 12/02/14 10:02:09 AM
#239   Got rid of this pos Goldmind 12/02/14 04:03:33 AM
#238   This will have a lot of hurdles soon Baw185 11/28/14 07:43:48 AM
#237   Only 16 mill float was almost chewed up Rookiemove 11/25/14 04:47:19 PM
#236   Over $9 in Sept, $5+ not far away. Rookiemove 11/25/14 04:46:14 PM
#235   Agreed. Ground floor atm for long term growth imo. CashFlowApe 11/25/14 04:45:02 PM
#234   According to the PR, could add $25 Mill+ Rookiemove 11/25/14 04:43:36 PM
#233   Agreed. Not to mention that nasty gap that CashFlowApe 11/25/14 04:34:53 PM
#232   Nice days up 23% but disappointed it didn't el jefe78 11/25/14 03:55:26 PM
#231   Exactly my friend can't wait :D CashFlowApe 11/25/14 12:07:49 PM
#230   yeah I hope it can close in $3.80's pick em low 11/25/14 11:33:04 AM
#229   Up 38% Boommmmmmmmmmm CashFlowApe 11/25/14 09:34:29 AM
#228   Easy 10 baggar in a year with the CashFlowApe 11/25/14 09:19:06 AM
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