Americas Energy Company (OTC Bulletin Board: AENY) and Americas Energy Company, Inc. (AECo) have announced that AECo completed its initial $1 million financing. The initial financing is part of the Definitive Agreement between the two companies in which AENY will acquire AECo. The companies have expanded its financing arrangement in order to include an additional $8 million to complete the acquisition of other properties including the Evans Coal Company.
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Crocotta will now actively pursue the development of its core resource plays in the Montney, Bluesky and Cardium formations. Further information on the scope and timing of such projects is expected to be released prior to the end of January 2010.
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