StockGuru News: Imperial Signs $12 Million Financing Agreement to Expand Biodiesel and Oil and Gas Operations
Imperial Signs $12 Million Financing Agreement to Expand Biodiesel and Oil and Gas Operations Imperial Petroleum, Inc. (OTCBB: IPTM) EVANSVILLE, Ind.–(BUSINESS WIRE)–May 31, 2006–Imperial Petroleum, Inc. (”Imperial” or the “Company”) (OTCBB:IPTM - News) announced today that it has signed an engagement agreement with a full service investment financial group providing a broad range of securities related services for raising $12 million through a private placement of a Convertible Debenture. The general terms of the Debenture include a conversion price at a 20% discount to the market with a floor price of $0.40 per share (prior to giving effect to a…