Friday, December 27, 2013

USA, Nevada:

Ram Power Announces Completion of Rights Offering (Press Release)

Ram Power, Corp. has announced that it has completed its previously announced offering of rights to holders of its common shares of record at the close of business on November 26, 2013. A total of approximately 67 million common shares were issued pursuant to the rights offering.

The rights offering raised gross proceeds of approximately $5.4 million, the net proceeds of which will be used by Ram Power to fulfill upcoming interest payment obligations to the holders of Ram Power's outstanding debentures in the aggregate amount of approximately $2,180,000 due December 31, 2013 and for general corporate and working capital purposes.