High Plains Gas, Inc. Enters into a Securities Purchase Agreement
March 15 2012 - 3:04PM
Business Wire
High Plains Gas, Inc. (the “Company”) (OTCBB: HPGS) today
announced that on March 9, 2012 it entered into a definitive
Securities Purchase Agreement with an institutional investor for
capital raised via a secured convertible note. The Company received
$750,000 in cash from said transaction which the Company intends to
utilize for continued expansion of oil field services into North
Dakota, Colorado, and Texas.
Chief Executive Officer, Brandon Hargett, stated, “We are
excited to secure this funding which will afford our group further
leverage for robust growth within the oil field services sector.
With additional capital available, we hope to secure significantly
larger projects throughout our region. High Plains Gas continues to
strive for excellence within the energy services sector.”
About the Company
High Plains Gas, Inc. is a Gillette, Wyoming-based company
involved in the active ownership and management of two entities
within the energy industry. High Plains Gas, LLC, a wholly owned
subsidiary of High Plains Gas, Inc., is actively engaged in the
acquisition, development and production of natural gas primarily in
the Powder River Basin. In 2011, the Company formed a subsidiary,
HPG Services, LLC, focused on providing construction, fabrication,
and maintenance services to the energy industry, primarily in the
Western United States. In October 2011, HPG Services acquired BGM
Buildings, a regional construction company focusing on the erection
of steel buildings for use throughout the energy and mining
industries. Also in late 2011, HPG Services acquired Miller
Fabrication LLC, a regional construction and fabrication firm
focusing on providing field services to the energy industry. The
combination of these entities has allowed Miller Fabrication to
become a regional leader in energy field services and the ability
to provide clients with a full array of services for the energy and
mining industries. For additional information on High Plains Gas,
please visit the Company’s website at
http://www.highplainsgas.com/.
Safe Harbor
Statements made about our future expectations are
forward-looking statements and subject to risks and uncertainties
as described in our most recent filings made with the US Securities
and Exchange commission, and are subject to change at any time. Our
actual results could differ materially from these forward-looking
statements. We undertake no obligation to update publicly any
forward-looking statement.