Jericho Oil said it was proceeding with a private placement of more than 17million units at a price of $0.40 per share in a bid to raise $6.929million.
Each unit will be comprised of one common share and one half warrant, with each full warrant being exercisable into one additional share.
The proceeds of the offering will be used immediately towards the acquisition of producing wells and prospective acreage in central Oklahoma.
Recommended for you
