CYGAM Energy Closes $250,000 Private Placement; Shares Hit New Year Highs

By Midnight Trader,  September 26, 2012, 02:05:06 PM EDT

CYGAM Energy Inc. (CYG.V) announced that it has closed its previously announced private placement of 1.0 million common shares of the company at a price of $0.25 per share for gross proceeds of $250,000 to an officer and director of the company.

The company intends to use the net proceeds of the private placement to fund ongoing development drilling expenditures at the TT Field in Tunisia and for general working capital purposes.

CYG has hit a new year high of 36 cents today. Volume traded is over 56,000.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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