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Expion360 Plans Oil and Gas Asset Purchase Using Private Placement Proceeds

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Expion360, formerly Expion Energy, entered a definitive agreement for a private placement with accredited investors, initially issuing $9.0 million of 8% convertible debentures and warrants to buy up to 2,117,219 shares at $4.25. Net proceeds are about $8.2 million after fees, intended for acquiring certain oil and gas assets in Eastern Louisiana and for general corporate purposes, including working capital.

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