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Provider: Reuters Investment Profile
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Samoth Oilfield Inc Announces Private Placement


Monday, 28 Oct 2013 04:05pm EDT 

Samoth Oilfield Inc announced that it has completed its previously-announced non-brokered private placement for gross proceeds of $500,000. Pursuant to the Private Placement, Samoth issued 10,000,000 Common Share Units at a price of $0.05 per Unit. Each Unit is comprised of one Common Share and one Common Share Purchase Warrant. Each Warrant entitles the holder to purchase one additional Common Share of Samoth at an exercise price of $0.05 for a period of two years from the date of issuance of the Units. The proceeds from the Private Placement will be used for the purposes of potential asset acquisition(s), reserves evaluation and for general working capital. 

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