Cabo Drilling announces today that it has closed the first tranche of its non-brokered private placement of debenture units, raising gross proceeds of $2,705,000 which is part of a larger offering to raise a total of up to $5,000,000. The full Offering is anticipated to consist of 5,000 Units at a price of $1,000 per Unit for gross proceeds of $5,000,000. Each Unit will be comprised of one secured subordinate
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