By San Antonio Business Journal

EnerJex Resources Inc. has received $5 million in proceeds through the sale of restricted common stock in a private placement at 40 cents per share.

San Antonio-based EnerJex (OTCBB: ENRJ) proceeded with the stock offering as part of a larger plan that also included EnerJex converting $2.68 million in senior debt into common stock, the acquisition of multiple oil assets totaling $5 million and the reconstitution of EnerJexâ¿¿s entire board and management.

For more information, visit this link.

www.enerjexresources.com

Copyright 2011 American City Business Journals

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