debt
confidence high
sentiment neutral
materiality 0.40
Foreland Refining raises $416,700 in Series A Preferred Stock offering
Sky Quarry Inc.
- Subsidiary completed sale of 4,167 shares of 10% redeemable preferred stock at $100/share ($416,700 proceeds).
- Offering targets up to $1,235,000; Foreland intends to continue selling remaining shares.
- Preferred stock pays 10% annual dividend plus $0.75 royalty per barrel of crude oil refined and sold.
- Automatic redemption after 5 years; early redemption at 110%-103% of liquidation preference.
- Shareholders have no voting rights; preferred stock is not convertible into common equity.