Strategic Oil & Gas Ltd. (TSX-V: SOG) closes private placement by issuing a further 4,638,597 units a price of $0.45 per unit. Each unit contains 1 common share and 1 common share purchase warrant. A purchase warrant enables its holder to acquire 1 additional common share for a period of 1 year from closing for $0.60 and 1,795,092 flow through units at $0.55 per flow through unit for net proceeds of about $3,100,000. A flow through unit contains 1 common share and one half of a flow through warrant, each flow through warrant enables the holder to purchase 1 additional common share for $0.70 for one year from closing.
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About Strategic Oil & Gas
Strategic is a junior oil and gas company with producing properties located in Southern and Central Alberta. Production is currently 340 to 350 boe/d as a result of additional production brought onstream late in the fourth quarter of 2009.
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