Crimson Exploration Inc. - 2010-12-22

Issued 4.25 million shares of common stock to ACEC for a total cash consideration of $21.25 million, and an option to purchase an additional 1.75 million shares of a newly created series of preferred stock at $5 per share for additional consideration of $8.75 million. Net proceeds will be used for general corporate purposes, including the continued development of its drilling prospects. America Capital Energy Corp. was the placement agent.