Toro Closes $500,000 Private Placement
Toro Ventures, Inc. has closed its $500,000 private placement. Toro is excited as these proceeds are planned to take Toro into full Oil and Gas production on the Crown Lease.
Toro Ventures, Inc. is excited to move aggressively into the Oil and Natural Gas exploration business. Oil and Gas prices are at high levels due to increased world energy demands and supply shortfalls. These higher prices should enable smaller and faster moving companies like Toro Ventures to be aggressive in acquiring further opportunities within the Sector.
Frederick Graham, President and CEO of Toro, stated that, "We continue to limit Placements, in this case 250,000 shares, to avoid unnecessary dilution to our shareholders. The Crown Leases we feel could very well fund further programs in the near future thereby increasing our value. This added value allows us to suffer even less dilution with future raises."
Toro will be updating progress on the Crown Oil and Gas wells next week as our work program progresses.