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Stock Market & Financial Investment News

News Breaks
January 22, 2014
09:08 EDTMNGAMagneGas enters into agreements for financing of $4M in gross proceeds
MagneGas announced that it has entered into definitive agreements with an institutional investor for a financing of $4M in gross proceeds. Under the terms of the agreements, MagneGas will issue registered shares of the company's common stock for $1.86M in gross proceeds and unregistered shares of Series B convertible preferred stock for $2.14M in gross proceeds, which are convertible into common stock of the Company at 80c per share. The offering is expected to close on or about January 27, subject to the satisfaction of customary closing conditions. Northland Capital Markets is serving as the exclusive placement agent on the transaction. MagneGas plans to use the proceeds from the transaction for general corporate purposes, including working capital and potential acquisitions.
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July 23, 2014
10:31 EDTMNGAMagneGas files provisional patents
MagneGas announced that it has filed provisional patents on the production methods and composition of MagneGas 2. This latest provisional patent is part of MagneGas effort to strengthen and broaden its intellectual property. In this case the application relates to new production methods and designs required to produce gas from high carbon liquid wastes as well as the composition of MagneGas 2.

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