BRIEF-Metropolitan Energy announces share consolidation, private placement

Mon Sep 26, 2016 10:35am EDT
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Sept 26 (Reuters) - Metropolitan Energy Corp. :

* Metropolitan Energy Corp. - share consolidation & private placement

* Co expects to implement share consolidation on basis of six pre-consolidation common shares for each one post-consolidation common share

* Company anticipates issuing up to 11.1 million post-consolidation common shares at a price of $0.0675 per share

* Net proceeds of offering will be used by Metropolitan to pay a portion of existing debt obligations Source text for Eikon: Further company coverage: