▒▒ SulphCo KorAsia.Inc ▒▒

name: sunny

2006/4/5(수)

SulphCo Announces Completion of Private Placement of $27.2 Million

SPARKS, Nev., March 30 /PRNewswire-FirstCall/ -- SulphCo, Inc. (Amex: SUF) announced today that it has sold four million units of its securities in a private placement for cash proceeds of $27.2 million. Of the units sold, half were purchased by investors who participated in the Company's June 2004 private placement, while the other half were purchased by a private European investor.

The Company intends to use the proceeds from the sale for the commercial rollout of the proprietary Sonocracking(TM) technology, including implementation of the joint venture in Fujairah and general corporate purposes.

Each unit has a purchase price of $6.805 and consists of one share of common stock and a warrant entitling the purchaser to buy one share of common stock at the purchase price within 18 months. The unit price of $6.805 was based upon the average unit price between March 8, 2006 and March 22, 2006. The Company has agreed to file a registration statement with the Securities and Exchange Commission within 30 days of the initial closing to register the resale of common stock acquired by the investors.