Lilis Energy Inc. - 2016-06-15

Offered 20,000 Series B 6.0% preferred shares in a private placement through securities purchase agreements with qualified investors. Proceeds will fund the costs of closing the company’s merger with Brushy Resources Inc., which works in the Delaware Basin. Proceeds will also support debt repayment, drilling and development costs, fees and working capital. Preferred stock is convertible into common stock at 11 cents per share. T.R. Winston & Co. LLC and KES7 Capital Inc. were placement agents.