Stream Oil & Gas Ltd, a Canadian energy company that operates in the Balkans, said it had completed a non-brokered private placement of 3.5 million Canadian dollars (2.3 million euros) though issue of 10,000,000 units at $0.35 per unit.
The company intends to use net proceeds to fund plans for a development work programme on its properties in Albania, and for working capital, management said in a statement.
Stream Oil & Gas Ltd (www.streamoilandgas.com) is a Vancouver-based emerging oil and gas production, development and exploration company focusing on the re-activation and re-development of three oil fields and a gas/condensate field in Albania.
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