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Grapevine, Texas-based GreenHunter Energy Inc. has closed the first tranche of a $60 million 10% Series A senior secured redeemable debenture offering. The notes will have a term of five years and will be exchangeable into freely tradable shares of GreenHunter Energy common stock once the required registration statement for the underlying securities goes effective with the regulatory authorities.

The total amount received by the company from this private placement is approximately $3.5 million from 13 accredited investors.

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