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CBM Asia Updates $15M Non-Brokered Private Placement
By: MT Newswires
CBM Asia Development Corp. (TCF.V) updated its March 6, 2013 announcement of a non-brokered private placement, stating that it has received preliminary offers from institutional investors and regional oil & gas companies for multi-year financing structures that would fund the company through its exploration phases of its coalbed methane Production Sharing Contracts in Indonesia.
The company is currently conducting due diligence on the offers and expects the process to take several more weeks.
TCF shares lost 1.5 cents to $0.18.