American/China Private Placement: Avro Energy’s $250,000 PPM
Hong Kong Private Placement — Avro Energy, Inc. signed and received funding from a private placement for $250,000. The subscriber, a Hong Kong-based Investment Firm, will receive one million PPMat a price of $0.25 per unit. Each unit consists of one restricted common share and one half share purchase warrant. Two half warrants will entitle the holder thereof to acquire one restricted common share at a purchase price of $0.50 per share for a period of 18 months from the date of issue.
No commissions or fees were paid, and the shares issued under this private placement are restricted and will bear the standard restrictive legend pursuant to rule 144.
The company plans to use the proceeds for the final payment and closing of its 11 deep producing oil wells in Southern Arkansas.
Avro Energy is an independent energy company engaged in the acquisition, exploration and development of oil and natural gas properties, and providing oilfield services. http://www.tradingmarkets.com/news/press-release/avoe_u-s-china-business-avro-energy-gets-250-000-private-placement-967564.html
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