21 Nov 2012capital raising announcement● NeutralMajor
On November 15, 2012, Rangeford agreed to buy a non-operating working interest in East Texas oil assets from Great Northern Energy for $3.9 million in cash and notes plus 6,500,000 shares, with Great Northern to be the operator for at least three years. The filing says Rangeford has no firm commitment yet for the funding and the prior operations must be audited first. It also reports $110,000 of 60-day 6% notes with 275,000 shares as a sweetener, and a placement agent (Delaney Equity Group, 6% fee) and consulting deal (Fidare, 20,000 shares plus a warrant). Rangeford moved to Irving, Texas.