RE: RE: Lenny buys today2009-12-30 15:38 ET - News Release
Mr. Leonard Jaroszuk reports
ENTERPRISE OILFIELD GROUP, INC. ANNOUNCES SECOND CLOSING OF PRIVATE PLACEMENT
Enterprise Oilfield Group Inc. has closed a private placement of 2.4 million common shares of the corporation at a price of 17 cents per share for gross proceeds of $408,000. The offering is in addition to the private placement of 4.1 million common shares which was completed and announced in Stockwatch on Dec. 22, 2009. In connection with the offering, the corporation paid a commission to an arm's-length third party in the amount of $40,800 and issued to such party warrants to purchase 240,000 common shares at a price of 17 cents per share for a period of one year. The proceeds from the offering will be used for working capital and general corporate purposes.
The subscribers for the common shares issued pursuant to the offering were Leonard Jaroszuk, the president and chief executive officer of the corporation, and a corporation controlled by Mr. Jaroszuk. After giving effect to the offering and a sale of common shares on the market, Mr. Jaroszuk currently owns or controls 7,603,400 common shares, representing 15.6 per cent of the issued and outstanding common shares of Enterprise.