The Company sold an aggregate of 40,694,335 shares of common stock and warrants to purchase an aggregate of 40,694,335 shares of Common Stock. The warrants are exercisable for a five-year period. The warrants will not be exercisable until the Company amends its articles of incorporation to increase its authorized number of shares of common stock. The Company has granted registration rights to investors in the private placement, and the Company will be subject to penalties if certain deadlines are not met.
Rancher Energy Corp. focuses on the oil & gas sector by specializing in evaluating older, historically productive fields in order to determine their potential for secondary and tertiary recovery.
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