Park Place Energy Inc. (OTCMKTS:PKPL) Files An 8-K Unregistered Sales of Equity SecuritiesItem 3.02
On August 20 and 21, 2018, Park Place Energy Inc. closed a private placement with the issuance of 650,000 and 321,061 shares, respectively, of common stock at $0.10 per common share with each common share having ½ of one share purchase warrant attached, resulting in the issuance of 325,000 and 160,531 share purchase warrants, respectively. Each whole share purchase warrant is exercisable for a period of 24 months at an exercise price of $0.30 per share of common stock.
We issued the above 971,061 common shares to 11 non-US persons (as that term is defined in Regulation S of the Securities Act of 1933) in an offshore transaction relying on Regulation S of the Securities Act of 1933, as amended.
About Park Place Energy Inc. (OTCMKTS:PKPL)
Park Place Energy Inc. is an energy company. The Company is engaged in exploration for oil and natural gas, primarily in the Dobrich region of northeast Bulgaria. The Company’s Vranino project is situated in close proximity to a gas pipeline in northeast Bulgaria. The Company intends to initially drill approximately five exploration wells. The Company’s oil and gas properties are located in Bulgaria. The Company has not generated any revenues.