US OIL & GAS: US Oil & Gas raises US$748,988 of new capital

US Oil & Gas Plc (LON:USOP) has told investors it has brought in US$748,988 of new capital as a result of an equity placing. The Nevada focussed oil junior is issuing some 1.9mln shares priced at 30p per share. Following the share placing, company chief executive Brian McDonnell holds 3.9mln shares which equates to a 6.8% stake.