Mr. James Owen reports
TROY ENERGY CORP. ANNOUNCES PRIVATE PLACEMENT
Troy Energy Corp. intends to conduct a private placement financing of up to eight million common shares at a price of five cents per share for aggregate gross proceeds of $400,000. Also, the corporation will issue 1.2 million common shares at a deemed price of five cents per share in settlement of existing loans payable to an officer, a director and a shareholder in the total amount of $60,000. Both transactions are subject to regulatory approval. In accordance with applicable securities laws, the common shares issued under these issuances are subject to four-month hold periods. The proceeds from this private placement will be used for investigation of new projects and for general working capital purposes. Directors, officers and existing shareholders may participate in this private placement.
We seek Safe Harbor.
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