La Cortez Closes of a $2.4 Million Private Placement

La Cortez Energy, Inc., announced that it completed a private placement of common stock to institutional and accredited investors for aggregate gross proceeds of $2.4 million. The common stock was issued at $1.00 per share.

The Company plans to use the proceeds of the financing to capitalize on oil and gas exploration, development and production opportunities in South America and for general working capital purposes.