Circle Star Energy (fka CRCL)

[Timothy Smith]

This is good, more capital to move forward. What are the effects of the market though?

Circle Star Energy Announces $750K Equity Raise

May 16, 2012 2:07:00 PM

FORT WORTH, TX -- (Marketwire) -- 05/16/12 -- Circle Star Energy Corp. (OTCBB: CRCL) (the "Company" or "Circle Star") is pleased to announce the raise of $750,000 in equity financing.

Circle Star issued 500,000 units at a price of $1.50 per unit for gross proceeds of $750,000. Each unit consists of one share of common stock of the Company and one half share purchase warrant. Each full warrant may be exercised to acquire one share of common stock of the Company at an exercise price of $2.75 through May 15, 2015.

Circle Star's use of proceeds is focused on payment of debt obligations, acquisition capital needs and/or general corporate purposes.

The units, shares of common, warrants and underlying shares of the financing were not registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws. Accordingly, the shares, warrants and underlying warrant shares are "restricted securities" and may not be offered or sold absent registration or an applicable exemption.