Strategic Oil & Gas Secures Funds for 2009 Drilling Program
Strategic Oil & Gas announced that on December 30, 2008 the Company closed a non-brokered private placement for gross proceeds of $680,000. The Company issued 1,700,000 common shares on a flow-through basis at a price of $0.40 per Share. The Shares issued pursuant to this financing are subject to a hold period under applicable securities laws, ending May 1, 2009. No insiders subscribed for Shares under this offering.
Funds from this private placement will be used to meet anticipated drilling costs in respect to the Company's 2009 drill program.
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