Dallas-based Core Resource Management Inc . (OTC: CRMI), entered a placement agreement with Casimir Capital LP , whereby Casimir will raise up $50 million, in equity and debt, for Core Resource, the company said Feb. 24.
Core will use the proceeds from monies to acquire nonoperating working interests in oil and natural gas production across North America, the company said.
Core Resource acquires existing oil and natural gas production, in partnership with operators, in Texas and the Southwest.
Casimir Capital, based in New York, is a natural resources investment bank.