2016

2015

2014

2013

2012

2011

2010

2009

Archives

20162015201420132012201120102009Archives
PETROMIN ANNOUNCES PRIVATE PLACEMENT
PETROMIN ANNOUNCES PRIVATE PLACEMENT

Friday, 08 March 2013

Petromin Resources Ltd. has canceled its private placements announced on November 14, 2012. Instead, Petromin announces a non-brokered private placement (the"offering") of up to 5,000,000 units.  Each unit will be comprised of one common share of the Company and one half of a common share purchase warrant ("warrant"). The units will be offered at a price of $0.05 per unit for gross proceeds of up to $250,000. Each whole warrant will be exercisable for one common share of the Company for a period of 12 months from the closing date of the Offering at an exercise price of $0.10.

Subject to the approval of the TSX-Venture Exchange, a finderís fee will be paid by the Company to certain finders, who are armís length parties, for services rendered in introducing certain investors to the Offering.  The finderís fee will consist of a cash payment of 10% of the proceeds derived from the Units sold through the finders.

The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the securities regulatory authorities. All securities issued pursuant to the private placements will be subject to a four month hold period.

The proceeds from the above financings will be used to fund the acquisition of additional oil and gas lands, the work-over and recompletion of some existing wells and for general working capital.

 

Subscribe to stay up-to-date on Petromin's latest announcements and official news releases.

name:

email:

profile:

Investor

Investment broker

Analyst

Media

Other

Reaching an Agreement With CUCBM

Learn more >

Petromin attends 2007 World Energy & Chemicals Exhibition Conference (WECEC) in Kuwait

Learn more >
© 2008 Petromin Resources Ltd. All rights reserved. | tsx.v : PTR
contact us|disclaimer