TORONTO, Nov. 17 /CNW/ - Libra Advisors, LLC ("Libra"), announced today that it has acquired 11,112,000 Units of Strategic Oil & Gas Ltd. ("Strategic") at a price of $0.45 per Unit in connection with Strategic's private placement. Each Unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one common share, at a price of $.60 per warrant for a period of 12 months.
As a result of the acquisition, Libra now holds 11,112,000 common shares, representing approximately 17.8% of the outstanding common shares of Strategic, and 11,112,000 warrants of Strategic that, if exercised, would result in Libra holding approximately 30.2% of the total outstanding common shares of Strategic.
Libra acquired these Units for investment purposes and may, from time to time, acquire additional securities of Strategic or dispose of such securities as it may deem appropriate.
Libra is the investment advisor to Libra Fund, LP and Libra Offshore Master Fund, LP with principal offices at 909 Third Avenue, 29th Floor, New York, NY 10022.
SOURCE LIBRA ADVISORS, LLC
For further information: For further information: Mr. Ranjan Tandon, Managing Member at (212) 350-5125