Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/cbm-asia-proceeds-with-c38-million-non-brokered-pr.shtmlCBM Asia proceeds with C$3.8 million non-brokered private placement
CBM Asia Development Corp. sold a total of 12,120,000 common shares at a price of C$0.10 per share for gross proceeds of C$1,212,000 under its
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CBM Asia Development Corp. sold a total of 12,120,000 common shares at a price of C$0.10 per share for gross proceeds of C$1,212,000 under its C$5.0 million non-brokered private placement announced on July 26, 2013.
Accordingly, the Company is seeking to raise a further C$3.8 million on or before December 31, 2013 through the sale of an additional 38,000,000 common shares at a price of C$0.10 per share to fund production wells and/or further exploration and development costs associated with its coalbed methane production sharing contracts in Indonesia as well as general corporate and working capital expenses.
