Great East Energy, Inc. (OTCBB:GASE) announced a private placement of minimum 500,000 common shares and maximum 4,000,000 common shares at $1 per share for minimum gross proceeds of $500,000 and maximum gross proceeds of $4,000,000 on February 5, 2014. The securities will be issued pursuant to exemption provided under Regulation D and/or Regulation S. Hunter Wise Securities, LLC will act as the lead placement agent to the company on best efforts basis. Astapov Lawyers and Darren L. Ofsink of Ofsink, LLC will act as the legal advisors to the company. The company will pay the fees and commissions of the placement agent.

On the same date, the company closed the first tranche of the transaction. The company issued 50,000 shares for gross proceeds of $50,000 to an accredited investor.

On August 28, 2014, the company issued additional 25,000 shares for gross proceeds of $25,000 in its second tranche to an accredited investor. The company has raised $75,000 in the transaction.

On September 8, 2014, Great East Energy, Inc. closed the transaction. The company has received $1,500,000 in third tranche. The company has received total funding of $1,575,000 in this transaction from 8 investors. The company paid sales commission of $157,500 in connection with this transaction.