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    Texhoma Energy signs LOI to raise $5M from Southridge Partners II

    Texhoma Energy Inc.

    Texhoma Energy Inc. (OTC Pink: TXHE) has signed a letter of intent (LOI) with Southridge Partners II LP, an institutional investor, outlining terms for an equity purchase agreement (EPA) in the amount of $5 million, which if funded, will create significant growth capital to Texhoma.

    Under terms of the LOI, upon execution of the EPA, Texhoma will have the right, not the obligation to sell, from time to time, up to $5 million of its common stock to Southridge at a discount to the then trading price of its common stock, under terms deemed favorable by management, by submitting a draw down notice in an amount that the company determines.

     

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