Petro River Oil Corp. (PTRC)

[Old Grunt]

Petrol Lakes makes $6.5M investment in Petro River Oil
December 16, 2013
Petro River Oil


Petro River Oil Corp. closed a private placement of common stock at $0.08 per share for total gross proceeds of $6.5 million on December 12, 2013. In addition, the company issued a warrant to purchase additional common stock at a strike price of $0.1356 prior to December 12, 2015.
All of the offering was purchased by Petrol Lakes Holding Ltd., a newly formed investment group based in China with ties to the country's oil and gas industry. The proceeds will be used to fund development of Petro River's portfolio including over 115,000 net acres of oil and gas assets in Kansas, Missouri and Kentucky.....
Oil and Gas Financial Journal