Torchlight Energy Resources Inc. - 2015-06-10

Closed the private placement of $9.8 million in Series A convertible preferred stock. The stock was convertible into shares, priced at $1.15 each, after one year. Accredited investors received stock and warrants to purchase shares at $1.40 exercise price, for each series A share purchased. Net proceeds will pay off senior debt, bring the Series B sub-debt notes to current status and support general corporate purposes.