Petromin Completes Second Tranche of Private Placement
Friday, 31 May 2013
Resources Ltd is pleased to announce that it has completed
closing on the second tranche of its non-brokered private placement (“Private
Placement”) announced on March 8, 2013. 600,000 common shares at a price of
$0.05 were issued for gross proceeds of $30,000. 300,000 common share purchase
warrants were issued to the placees at the exercise price of $0.10, expiring
October 1st , 2015.
All shares issued
with respect to the Private Placement are subject to a hold period of four
months, expiring October 1st , 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