Vanguard Energy Corporation Completes $4,800,000 Initial Public Offering
(firmenpresse) - HOUSTON, TX -- (Marketwire) -- 12/02/11 -- Vanguard Energy Corporation (OTCBB: VNGEU) announced it had completed a $4,800,000 initial public offering (IPO). The offering consisted of 4,800,000 Units priced at $1.00 per Unit. Each Unit consists of one share of Common stock and one five-year Warrant to purchase one share of Common stock at a price of $1.50.
Paulson Investment Company, Inc., a wholly owned subsidiary of Paulson Capital Corp., served as lead manager of the offering. Paulson Investment Company, Inc. has a 30-day option to purchase up to an additional 720,000 Units to cover over-allotments.
The Units began trading under the symbol "VNGEU" on the Over-The-Counter Bulletin Board (OTCBB) on November 29, 2011, and will trade as a Unit for a minimum of 30 days and a maximum of 45 days, unless Paulson Investment Company determines that an earlier date is acceptable. Once the Units split, the Common shares will trade under the symbol "VNGE" and the Warrants will trade under the symbol "VNGEW", also on the OTCBB.
A copy of the prospectus relating to the IPO may be obtained from the offices of the underwriter, Paulson Investment Company, Inc. In addition, the final prospectus is on file with the SEC and is available at the following link:
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Vanguard Energy Corporation (OTCBB: VNGEU) is an early stage oil drilling and production company with a focus on established oil fields in southeast Texas. Vanguard plans to concentrate on oil properties in established areas with proven production, Vanguard's initial area of operation is in the Batson Dome Field, where it controls more than 400 leased acres.
This press release and other statements Vanguard Energy Corporation may make in the future contain forward-looking statements that relate to Vanguard's plans, objectives and future estimates. Various risks, uncertainties and other factors could cause actual results to differ materially from those expressed in any forward-looking statements. For a more detailed list of such risks, uncertainties and other factors, please refer to the Risk Factor section of Vanguard's Form S-1 and in its other periodic filings with the Securities and Exchange Commission. Vanguard makes no commitment to update any forward-looking statement, or to disclose any facts, events, or circumstances after the date of this release that may affect the accuracy of any forward-looking statement, except as may be required by applicable law.
Victor P. Thompson
Investor Relations
888-751-1306
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Datum: 02.12.2011 - 12:00 Uhr
Sprache: Deutsch
News-ID 93440
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HOUSTON, TX
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Alternative Energy
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