Stratex Oil & Gas Holdings, Inc. (OTCPK:STTX) announced a private placement to receive $15,000,000 in funding on June 6, 2014. The company will issue convertible note and an option, warrant or other right to acquire another security in the transaction. The company will issue securities pursuant to exemption provided under Regulation D. The minimum investment accepted from any outside investor will be $50,000. Radnor Research & Trading Company LLC will act as the placement agent to the company. The company will pay a sales commission of $1,500,000.

On the same date, the company announced that it has issued 12% series B senior secured convertible promissory notes for gross proceeds of $3,032,860. The notes have an interest at the rate of 12% per annum payable quarterly in arrears and all outstanding principal under the notes will mature on June 6, 2016. The notes are convertible into common shares at a conversion price of $0.30 per share, at any time after the six month anniversary date. The company may, at any time after the six month anniversary date of the issuance of the notes, elect to redeem all or a portion of the notes, provided, however, that if the company elects to redeem the notes prior to the one year anniversary date from the date of issuance, the company will be required to deliver an amount of interest equal to what the holder of the note would have received if such holder held the note for a period of one year. The company also issued warrants to purchase up to an aggregate of 2,021,957 common shares of at an exercise price of $0.30 per share. The warrants are immediately exercisable and expire five years following the date of their issuance. The transaction included participation from 21 investors. The company issued warrant exercisable for up to 835,954 common shares at an exercise price of $0.30 per warrant to the placement agent.

On July 2, 2014, the company issued notes for gross proceeds of $2,376,625. The company has received $5,409,485 in funding till date. Till date, the company paid a placement agent fee of $478,448 and issued warrants to purchase 1,594,827 shares at an exercise price of $0.30 per share for a period of five years following the date of their issuance.

As of July 16, 2014, the company received funding from 45 investors.

On August 13, 2014, the company issued notes for gross proceeds of $2,230,575. The company has received $7,640,060 in funding till date. Till date, the company paid a placement agent fee of $676,505 and issued warrants to purchase 2,255,017 shares at an exercise price of $0.30 per share for a period of five years following the date of their issuance.