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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

United Energy Announces Secured Financing of up to $5 Million

United Energy (OTCMKTS:UNRG)

United Energy Corporation today announces it entered into a securities purchase agreement and convertible debt financing of up to $5 million. This funding completes UNRG’s Stage 1 financing plan for the development of UNRG’s Cherokee Basin oil and gas assets and related projects. UNRG is a diversified oil and gas producer with a 50-year history in the energy, manufacturing, and mining industries.

The secured financing of up to $5 million is through a Senior Secured Convertible Note. If elected, the Note is convertible into UNRG’s Common Stock at a conversion price of $0.10/share. It can be issued in tranches (designed for diverse investors at various risk and reward levels). It will be a senior secured obligation of United Energy and will accrue interest at a rate equal to the Prime Rate plus 9.0% per annum, with a minimum rate of 15% per annum payable monthly. The securities purchase agreement also includes two series of warrants exercisable at $0.20 and $0.30 a share.

The investment is provided by a family office investment fund. Family offices are investment funds that manage the financial assets of a family or group of families or trusts. They operate in a similar manner to standard investment funds but with more flexibility toward the objective of their principals.

Paulson Investment Company, LLC, a highly esteemed investment banking firm with nearly 50 years of operations, facilitated the institutional investor interest in United Energy. Paulson specializes in public offerings of small and emerging growth companies with capital needs of $5 to $45 million.

Brian Guinn, CEO and President of UNRG, said, “We are pleased to announce this milestone transaction which allows UNRG’s operational team to scale and grow aggressively because of the expected long-term demand of natural gas – both domestically and internationally. This funding provides the financing to meet our growth projections which includes preparing United Energy for its filing to become a fully-reporting SEC company on a major exchange in the near term.”

United Energy’s Stage 2 financing plan includes a larger capital facility to be used for additional acquisitions and natural gas producing roll-up opportunities.

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