Along with recently exercised options by Tri-Valley directors the total cash raised in this initial tranche is $5,346,500 bringing the total outstanding shares to 21,711,552.
"Since 1996 we have privately placed our unregistered, restricted share at a premium to the market -- and then applied the funds in a manner to grow the value of the shares. While we nominally dilute ownership, we have a 100% track record of successfully increasing every shareholder's value by effectively applying these placement proceeds. In fact the stock price has already risen to match even the highest priced warrants from these recent placements and we expect to add even more value," Blystone said.
Tri-Valley has an expanding array of very substantial project opportunities with exceptional upside potential and is building a "war chest" of capital for use in obtaining what it considers to be the best of these projects to leverage and grow shareholder value.
He noted that the Company is aggressively leasing thousands of acres of mineral rights in prospective areas of California's prolific Great Central Valley and is expanding its team of consulting geologists, petroleum engineers and geophysicists in order to accelerate the generation of large target prospects. The Company also has a full time due diligence expert degreed and experienced in geology, geophysics, business and law who is reviewing a host of acquisition prospects and business opportunity submittals.
"We expect to find one or more very attractive opportunities that we can highly leverage for attaining exceptional shareholder value. We are set up to ferret out some unique, high upside situations for our investors that can also continue Tri-Valley's highly aggressive growth rate," Blystone said.
Tri-Valley stock is now trading above $7.00 per share, nearly double last December's $4.40 close.
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