Chroma Exploration & Production Inc. has announced that it has closed a US $50 million Series AA Participating Preferred Stock issue with several investors. More than 60% of the new stock issue was placed with the company’s existing investors.
Proceeds from the issue will be used by the company to refinance existing indebtedness, acquire
and develop oil and gas properties, and fund capital expenditures. In conjunction with the stock
issue, the Company announced that Ronald D. Christie has joined the company as its senior vice president-Exploration in addition to his current board position. Christie will direct the company’s exploration and exploitation efforts.
For more information, visit www.chromaexpl.com.
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