Texhoma Energy Inc. (OTC: TXHE) signed a letter of intent with institutional investor Southridge Partners II LP for an equity purchase agreement of $5 million, the company said July 1.
The equity purchase agreement would “create significant growth capital” for the company, Texhoma said.
Under it, Texhoma will sell up to $5 million in common stock to Southridge at a price lower than the trading price, the company said.
Texhoma will file an S-1 with the Securities and Exchange Commission, the company said.
"We are pleased to be partnering with ...