December 2, 2016 / 10:17 PM / a year ago

BRIEF-US Oil Sands Inc announces $7.5 million financing and PR spring project update

Dec 2 (Reuters) - Us Oil Sands Inc

* US Oil Sands Inc announces $7.5 million financing and PR spring project update

* US Oil Sands says to preserve working capital, co temporarily laid off most Canadian and U.S. employees, retaining only those essential to close financing

* US Oil Sands Inc says upon closing financing, co will reconstitute board of directors such that number of directors will decrease from eight to six

* Upon closing financing, ACMO will increase its representation on board from two to three directors Source text for Eikon: Further company coverage:

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