TAMPA, Fla.--(BUSINESS WIRE)--Skyway Capital Markets, LLC (“Skyway”), a boutique investment banking firm headquartered in Tampa, Florida, completed an $8 million private placement of 12% 2020 Senior Unsecured Promissory Notes (the “Notes”) on behalf of Torchlight Energy Resources, Inc. (“Torchlight”), a high growth upstream oil & gas company based in Plano, Texas. Torchlight intends to use the net proceeds from the Notes for working capital and general corporate purposes, which includes drilling capital, lease acquisition capital and repayment of prior debt.
"We are pleased to obtain this debt financing which should address our capital needs all the way into 2018," stated John Brda, Torchlight's CEO. "The team at Skyway did a great job helping us get this important transaction completed."
In the week following the announcement of the completion of the Notes transactions, Torchlight’s stock price rose 30% on significantly heavier than average trading volumes.
About Skyway Capital Markets, LLC
Skyway offers attractively structured debt oriented financings to fast growing middle-market companies, public and private, including those operating in the oil & gas sector. Skyway differentiates itself from its competitors by providing issuers more capital market options, which includes access to ultra-high net worth investors, family offices, independent broker-dealers, registered investment advisors, and select institutional investors. For additional information on Skyway, please visit www.SkywayCapitalMarkets.com.
About Torchlight Energy Resources, Inc.
Torchlight Energy Resources, Inc. (NASDAQ: TRCH), based in Plano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary focus on acquisition and development of highly profitable domestic oil fields. The company has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. For additional information on the Company, please visit www.torchlightenergy.com.