Toro Details Proposed Private Placement
Toro Ventures, Inc. intends to effect a private placement in which it will sell 250,000 units at a price of US $2.00 per unit for gross proceeds of US $500,000 from institutional and high net worth individual investors. Each unit will consist of one common share in Toro Ventures Inc. The private placement consists of all Rule 144 restricted stock.
The Company intends to use the proceeds from this private placement for working capital to advance its project on the Crown Oil and Gas Lease.
Frederick Graham stated, "Toro is limiting this offering to only 250,000 units to get us into production on the Crown Oil and Gas lease without unnecessary dilution to our shareholders."
Toro's objective is to develop opportunities in the Oil and Natural Gas sectors that represent lower than industry average risk. As well, Toro aims to define larger projects that can be developed with Joint Venture partners. Toro is confident that these opportunities exist in a sector that holds long-term fundamental strength. By doing so Toro intends to continue building Oil and Natural Gas reserves thereby increasing capital appreciation to Toro shareholders.