MILL raises more money on the CHEEP!!! Anybody here get some?
Miller Energy Resources Receives Subscriptions for $5 Million in Financing Round
Thursday 04/01/2010 9:22 AM ET - Marketwire
Miller Petroleum, Inc., dba Miller Energy Resources (OTCBB: MILL), announced today that it has received signed subscription agreements from accredited and institutional investors to sell $5,017,002 million in Units of its equity securities in a private offering. Under the terms of the securities purchase agreement, Miller Energy Resources will issue and sell an aggregate of 1,443,432 shares of its common stock at an offering price of $3.50 per share, and will issue the subscribers five-year warrants to purchase an additional 716,716 shares of common stock at an exercise price of $5.28 per share. These warrants can also be exercised on a cashless basis. Sutter Securities Incorporated acted as the finder in this transaction and will be entitled to receive a cash fee and warrants as its compensation. The closing is subject to customary closing conditions and closing is anticipated to occur on April 1, 2010. Following the closing, Miller Energy Resources has agreed to register the shares to be issued and sold in the offering, including the shares underlying the warrants, with the Securities and Exchange Commission so as to permit the public resale thereof.
"This will be the second successful equity raise for Miller Energy Resources this year," said Scott M. Boruff, Miller CEO. "We are very pleased with the confidence investors have demonstrated in our ambitious business plan for the upcoming fiscal year and beyond. We look forward to a prompt closing of the offering."
MILKY WAY over Devil's Tower
AI
