PEDEVCO Raises $25 Million Through Private Offering to Fund Permian Basin Development and Acquisitions

Sep 18, 2019

HOUSTON, TX / ACCESSWIRE / September 18, 2019 / PEDEVCO Corp. (NYSE American:PED) (the "Company") today announced that it has raised an aggregate of $25 million of unrestricted cash through the sale of restricted common stock, including $12 million at approximately $1.43 per share from Mr. Viktor Tkachev, a seasoned oil and gas industry executive and investor who formerly served in several executive level positions at various oil companies which merged with BP, and $13 million at approximately $1.58 per share from SK Energy LLC, an investment firm owned by Dr. Simon Kukes, the Company's Chief Executive Officer. The Company plans to use the proceeds from these offerings to fund its continued Permian Basin development program and additional acquisition activities.

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