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Transportation equipment industry

Unicorp, Inc. Secures $10 Million Funding Commitment from Cornell Capital Partners

Strategic Insights

— 2 min read

Unicorp, Inc., a company engaged in the acquisition, development, exploration, and production of crude oil and natural gas, has secured a $10 million funding commitment from Cornell Capital Partners, LP. The Standby Equity Distribution Agreement commits Cornell to provide up to $10 million of funding to Unicorp over a 24-month period, subject to certain terms and conditions.

This commitment could be significant news for investors, as Unicorp plans to use the funds to continue expanding its drilling prospects. Carl A. Chase, CFO of Unicorp, stated, "We are pleased to have received this funding commitment which we intend to use to continue to expand our drilling prospects. We remain committed and focused on creating long-term shareholder value."

The funding commitment comes as oil prices have reached a record high near $67, with U.S. refinery outages looking set to test gasoline supplies in the world's biggest-consuming nation. This development could have significant implications for the oil and gas industry, and investors will likely be keeping a close eye on Unicorp's progress.

Key Takeaways:

  • Unicorp, Inc. has secured a $10 million funding commitment from Cornell Capital Partners, LP.
  • The funding will be used to expand Unicorp's drilling prospects and create long-term shareholder value.
  • Oil prices have reached a record high near $67, with U.S. refinery outages looking set to test gasoline supplies.
  • The funding commitment could be significant news for investors, with Unicorp's stock potentially on the radar screen of aggressive investors and day traders.
  • Unicorp's goal is to achieve a high return on investment by limiting up-front acquisition costs, quickly developing its acquisitions, and practicing a sound and smart approach to oil and gas exploration and development.
  • Cornell Capital Partners, LP is a key player in structuring and executing equity agreements, with facilities like the Standby Equity Distribution Agreement widely utilized by companies in the USA, UK, and Australia.

Statistics:

  • Unicorp, Inc. has acquired a $10 million funding commitment from Cornell Capital Partners, LP.
  • Oil prices have reached a record high of $67.
  • U.S. refinery outages have tested gasoline supplies, with implications for the oil and gas industry.
  • The funding commitment could result in a high return on investment for Unicorp.
  • Cornell Capital Partners, LP has made available in excess of $800 million for over 100 publicly traded corporations.

Sources:

  • M2 Communications Ltd (August 15, 2005) - M2 PRESSWIRE - Wall Street News Alert: Early Morning Stock Alert!
  • Wall Street News Alert's "stocks to watch" this morning are: Unicorp, Inc. (OTC: UCPI), General Motors Corp. (NYSE: GM), Halliburton Company (NYSE: HAL), Titan Oil and Gas, Inc. (OTC: TNOG), and Transocean Inc (NYSE: RIG).

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