Dr. Ross Gorrell reports
PETROMIN COMPLETES PRIVATE PLACEMENT
Petromin Resources Ltd. has completed closing on the second tranche of its non-brokered private placement announced on March 5, 2015. It issued 1.15 million common shares at a price of three cents for gross proceeds of $34,500. The same amount of common share purchase warrants were issued to the placee at the exercise price of five cents in the first year and 10 cents in the second year, expiring March 31, 2017. All shares issued with respect to the private placement are subject to a hold period of four months, expiring Aug. 2, 2015.
The proceeds from the financing will be used to finance the workover and recompletion of some existing wells and for general working capital of the company.
© 2024 Canjex Publishing Ltd. All rights reserved.