GreenHunter Resources Inc. (NYSE: GRH) closed the private placement of 181,786 units.
The placement consisted of an aggregate of 181,786 shares of the company’s 10% series C cumulative preferred stock and 282,778 common stock purchase warrants, for aggregate gross proceeds of some $3.2 million. Each warrant entitles the holder to purchase one share of common stock at $2.25 per share. The warrants have an expiration date of Sept. 19, 2018.
Proceeds will be used to fortify its Oilfield Fluid Management Solutions infrastructure.
The purchasers of the securities were Context Capital ...