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PETROMIN COMPLETES PRIVATE PLACEMENT
 
PETROMIN COMPLETES PRIVATE PLACEMENT

Wednesday, 24 April 2013

Petromin Resources Ltd.  is pleased to announce that it has completed closing on the first tranche of its non-brokered private placement (“Private Placement”) announced on March 8, 2013. 3.25 million common shares at a price of $0.05 were issued for gross proceeds of $162,500. 1,625,000 common share purchase warrants were issued to the placees at the exercise price of $0.10, expiring April 24, 2015. The Company will pay finder’s fee of $2,000 in connection with the Private Placement.

 

All shares issued with respect to the Private Placement are subject to a hold period of four months, expiring August 24, 2013.

 

The proceeds from the above financing 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 

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