American Power Corp. (OTCBB: TGMP) ("American Power" or "the Company") is pleased to announce it has closed a financing agreement for total gross proceeds of $10 million through a 2.5 year stock issuance agreement with Black Sands Holdings, Inc.
The funding to be provided under this agreement will be used to finance the Company's ongoing exploration, development and acquisition strategies, as well as general working capital purposes.
"This financing will be key in executing on our exploration and development of the Pace coal property," stated Al Valencia, President and CEO of American Power Corp. "The agreement includes a warrant component that could provide an additional $10 million to American Power over the coming years. Now that we have this funding agreement in place, we feel ever more confident in moving forward with our exploration program which will take us another step forward towards producing the anticipated substantial coal resources on our acreage."
The securities offered have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent a registration or an applicable exemption from the registration requirements. For full details on the agreement, please refer to the Company's latest SEC filings.
