Teton Petroleum Company Closes Second Round of Private Placement
November 11 2003 - 6:10PM
PR Newswire (US)
Teton Petroleum Company Closes Second Round of Private Placement
DENVER, Colorado, November 11 /PRNewswire/ -- Teton Petroleum
Company ("Teton") (Amex: TPE), an independent oil and gas
exploration and production company active in Russia, announced
today that it has closed an extended second round of its privately
placed series A convertible preferred stock. The initial offering
of convertible preferred shares, which closed on October 23, 2003,
was extended due to continued high investor demand. (Logo:
http://www.newscom.com/cgi-bin/prnh/20030611/TETONLOGO) The second
round closed today after Teton raised approximately US$2.3 million.
Teton sold approximately 526,000 restricted series A convertible
preferred shares at a price of US$4.35 per share. The preferred
shares carry an 8% dividend, payable quarterly. The total funds
raised in the convertible preferred private placement now equal
approximately US$9.8 million, a 96% oversubscription. The preferred
shares issued in the second round require shareholder approval in
order to be converted into common shares. Both the first and second
rounds of the private offering were placed with institutional and
accredited private investors. The offering proceeds will be used
for working capital in the Goloil license in Western Siberia and
for general corporate purposes. About Teton Petroleum Company:
Denver-based Teton Petroleum Company (Amex: TPE) is the only
publicly traded U.S. oil and gas exploration and production company
with all of its producing assets in Russia. The company is
currently developing three oil fields at its Goloil license in
Western Siberia. The company has been producing and exporting oil
out of Russia since 1998. This news release may contain certain
forward-looking statements, including declarations regarding Teton
and its subsidiary's expectations, intentions, strategies and
beliefs regarding the future. All statements contained herein are
based upon information available to Teton's management as at the
date hereof and actual results may vary based upon future events,
both within and without the control of the Teton's management. For
more information, contact: Chuck Nelson, Investor Relations (North
America), MRB Investor Relations LLC., +1(212) 495-0200 ext. 15,
cnelson@mrb-ir.com ; Gillian Kane, Corporate Services, Teton
Petroleum Company, +1(970) 870-1417, Gillian@tetonpetroleum.com ;
Tracy Weslosky, Media Relations (North America), Pro-Edge
Consultants Inc., +1(416) 581-1717, tracy@pro-edge.com ; Gary
Middleton, Media Relations (Europe), Capital Integrated Marketing
Communication Ltd., 44 207 902 0703 gary@capitalww.com; Alexander
Goldin, Media Relations (Russia), Ansdell Associates, +(7095) 970
1699, agoldin@ansdell.ru . Web site: http://www.tetonpetroleum.com
CONTACT: Chuck Nelson, Investor Relations (North America) of MRB
Investor Relations LLC., +1-212-495-0200 ext. 15,
cnelson@mrb-ir.com , for Teton; or Gillian Kane, Corporate Services
of Teton Petroleum Company, +1-970-870-1417,
Gillian@tetonpetroleum.com ; or Tracy Weslosky, Media Relations
(North America) of Pro-Edge Consultants Inc., +1-416-581-1717,
tracy@pro-edge.com , for Teton; or Gary Middleton, Media Relations
(Europe) of Capital Integrated Marketing Communication Ltd., 44 207
902 0703, gary@capitalww.com , for Teton; or Alexander Goldin,
Media Relations (Russia) of Ansdell Associates, (7095) 970 1699,
goldin@ansdell.ru , for Teton/ Photo: NewsCom:
http://www.newscom.com/cgi-bin/prnh/20030611/TETONLOGO AP Archive:
http://photoarchive.ap.org PRN Photo Desk, 888-776-6555 or
212-782-2840
Copyright
Teton (AMEX:TPE)
Historical Stock Chart
From Jun 2024 to Jul 2024
Teton (AMEX:TPE)
Historical Stock Chart
From Jul 2023 to Jul 2024