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Article: Colombia: Black Rock confirms [pounds sterling]2 million (USD4 million) cash injection.
- Article from:
- TendersInfo
- Article date:
- December 18, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: pinto03
Black Rock Oil & Gas has agreed the terms of a [pounds sterling]2 million (USD4 million) cash injection that will see existing shareholders heavily diluted. Cetus Investment Resources will subscribe conditionally [pounds sterling]2,000,000 for 200,000,000 new Ordinary Shares at 1p per share representing 86.147% of the enlarged issued share capital of Black Rock. Cetus Investment has also conditionally committed to provide between [pounds sterling]5 million(USD 10 million) and [pounds sterling]10 million, (USD20 million) subject to commercial and technical evaluation, for the next stage of Black Rock's exploration, appraisal and well development programme in ...