Torchlight Energy Completes $3 Million Equity Financing

PLANO, TX, Aug 15, 2014 (Marketwired via COMTEX) Torchlight Energy Resources, Inc. (NASDAQ: TRCH) ( Torchlight Energy or the Company ) today announced that the Company has completed a private offering ( the offering ) for approximately $3 million in gross proceeds. Torchlight Energy sold 860,000 shares of common stock at $3.50 per share to Castleton Commodities Opportunities Master Fund L.P. on August 14, 2014, after the close of trading. Castleton also received 1,400,000 warrants, with 700,000 warrants at an exercise price of $4.50 per share and the remaining 700,000 warrants at an exercise price of $7.00 per share. All warrants expire in five years. It was a pleasure working with Castleton on this equity raise, said John Brda, President of Torchlight Energy. They demonstrated tremendous professionalism in their due diligence and we are appreciative of their vote of confidence in the Torchlight management team and our business model. We look forward to a long and mutually beneficial
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