Brief: Pedevco Corp entered into series B convertible preferred stock and warrant subscription agreement with Dragon Gem and Absolute Frontier Ltd

PEDEVCO

18/08/2017 11:48

Aug 18 (Reuters) - Pedevco Corp  PED.A  
    * Pedevco Corp - on Aug 17, co entered into series B 
convertible preferred stock and warrant subscription agreement 
with Dragon Gem and Absolute Frontier Ltd 
    * Pedevco - pursuant to agreement the investors agreed to 
pay $12 million in cash to co in exchange for issuance by co of 
542,790 shares of co's series B preferred stock 
    * Pedevco Corp - the series B preferred stock will be 
convertible into 53.86 percent of co's issued and outstanding 
shares on an as-converted to common stock basis 
 
Source text: (http://bit.ly/2wggfBO) 
Further company coverage:  PED.A  
 
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