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Ring Energy Closes $19.3MM Private Placement

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Business Wire
June 26, 2013

Ring Energy Inc. (OTCBB: RNGE) raised US $19.3 million through a private placement of 3.5 million restricted shares of its common stock at US $5.50 per share.

Net proceeds after expenses are estimated to be US $18.5 million. Proceeds will be used for the continued enhancement and development of its Permian Basin assets located in Andrews County, Texas, site preparation on its Kansas leases which are scheduled for initial drilling in 2014, and general acquisition and leasing activity.

The receipt of these funds, in combination with Ring’s existing $10 million ...

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