Tag Archives: capital

Miller Energy Resources raising capital

Miller Energy Resources has raised millions in fresh cash and apparently wants more.Miller_Energy02.jpg

The Knoxville-based oil and gas exploration and production company said Thursday it has raised $10 million through a preferred stock offering to existing shareholders.

The company also announced that veteran corporate finance manager Don Raper has joined the company as senior vice president of finance – capital markets.

The money raised from the stock offering will be used to fund immediate expenses and “help us improve the terms and speed at which we can refinance our existing credit facility,” CEO Scott Boruff said in a prepared statement.

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Up in smoke in D.C.

WeGrow — a retailer that caters to medical marijuana users — is opening its first East Coast

Marijuana

Marijuana

location in the nation’s capital, according to news reports.

Wow! If you thought we had a do-nothing Congress now, wait till the boys on the hill have easy access to the plant food, grow lights and all that other stuff needed to cultivate their own pot.

Maybe it won’t be so bad after all. Some of those guys could stand to mellow out. It certainly would make for interesting back room deals.

AP: Capital gets garden store for medical pot growers

Photo: In this Jan. 11, 2010 photo, a worker shows a marijuana bud for sale at the Lotus Medical dispensary in Denver, Colorado. (Associated Press files)

Tennessee slips in ranking of best states for business

Tennessee is the 18th best state for business in 2011, according to CNBC’s annual rankings. That’s down two spots from the 2010 list.

Virginia captured the top spot for the second straight year.

CNBC’s study considers 10 categories: Cost of Doing Business, Workforce, Quality of Life, Economy, Transportation & Infrastructure, Technology & Innovation, Education, Business Friendliness, Access to Capital and Cost of Living.

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Need capital? Check out TNInvestco seminar

Minority- and women-owned businesses looking for capital can learn more about the state’s TNInvestco program at a seminar in Nashville on Monday. The Tennessee Department of Economic and Community Development will host a seminar and networking reception at 6 p.m. at the Entrepreneur Center.

A panel of venture capitalists will discuss the program, which was created in 2009 by the General Assembly. Its purpose is to provide increased capital to early-stage companies.

Seating is limited. RSVP to ecd.tninvestco@tn.gov.

TNInvestco website

Knoxville-based TrakLok attracts VC investment

Money has been tight in recent years, but Knoxville-based TrakLok Corp. scored big this week when Innova, a Memphis venture capital group, said it would invest in the developer of a security device for shipping containers.

Innova is providing “about 25 percent of the capital we’re looking for in this round,” said TrakLok CEO Eric Dobson. In return, Innova gets an equity stake in the Knoxville start-up.

Innova is a participant in TNInvestco, a state program designed to bring new capital to Tennessee and provide seed money for early stage companies based here.

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