Cano Petroleum Secures Additional Funding

Cano Petroleum reports that on September 16, 2005, it received written commitments for the private placement of 2,100,000 shares of its common stock at $4.14 per share from certain investment advisory clients of a large Boston-based institutional investment manager. The price was above the closing price for Cano shares on September 16, 2005, on the American Stock Exchange. Funding of the commitments will take place on or before September 30, 2005, upon receipt of American Stock Exchange listing approval. The gross proceeds will be $8,694,000, and the net proceeds of the issuance will be used for general corporate purposes, working capital and acquisitions.

The common stock offered in the private placement has not been registered under the Securities Act or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission or an applicable exemption from the registration requirements.

This notice shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state.

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 Company: Cano Petroleummore info
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