Petromin Completes Second Tranche of Private Placement
Wednesday, 04 February 2015
Ltd. (the “Company”) is pleased to announce that it has completed closing on
the second tranche of its non-brokered private placement (“Private Placement”)
announced on September 10, 2014. Four hundred thousand common shares at a price
of $0.03 were issued for gross proceeds of $12,000. The same amount of common
share purchase warrants were issued to the placee at the exercise price of
$0.05 in the first year and $0.10 in the second year, expiring February 02,
All shares issued
with respect to the Private Placement are subject to a hold period of four
months, expiring June 05, 2015.
The proceeds from
the above financing will be used to fund the operation of existing producing wells
and for general working capital of the Company.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.