- Tethys Petroleum Limited (TPL) has completed a private placement with Pope Investments II, LLC
- Pope Investments II, LLC acquired 2,592,115 ordinary shares of Tethys Petroleum for proceeds of C$1,736,717
- Pope Investments II, LLC, an investment fund managed by Pope Asset Management, LLC
- This placement has received approval from the TSX Venture Exchange
- Tethys Petroleum Ltd is an oil and gas exploration and production company
- Tethys Petroleum Limited (TPL) is unchanged, trading at $0.65 per share at 11:15 am ET
Tethys Petroleum Limited (TPL) has completed a private placement with Pope Investments II, LLC.
Pope Investments II, LLC acquired 2,592,115 ordinary shares of Tethys Petroleum. The price for the shares is C$0 .67 for total proceeds of C$1,736,717.
Pope Investments II, LLC, an investment fund managed by Pope Asset Management, LLC.
William Wells, the Chairman of Tethys Petroleum is the President of Pope Asset Management, LLC and has a minority ownership interest in Pope Investments II, LLC.
The private placement is considered a Related Party Transaction as defined under Multilateral Instrument 61-101 since Mr. Wells is the Chairman of the company.
This placement has received approval from the TSX Venture Exchange.
Tethys Petroleum Ltd is an oil and gas exploration and production company.
Tethys Petroleum Limited (TPL) is unchanged, trading at $0.65 per share at 11:15 am ET.