PETROMIN ANNOUNCES ACQUISITION OF GROSS OVERRIDING ROYALTY
Thursday, 16 July 2015
Petromin Resources Ltd. is pleased to
announce that it has entered into an agreement with Aboriginal Financial
Services Corporation (“AFSC”) to acquire and terminate AFSC’s existing
1.5% gross overriding royalty interest
(the “Acquisition”) held by Petromin’s Frog lake property in East-Central
Alberta. In consideration for the Acquisition, Petromin will issue 500,000
common shares of the Company to AFSC.
Completion of the
Acquisition is subject to certain conditions, including regulatory and TSX
Venture Exchange approvals. All securities issued in the Acquisition will be
subject to a four-month hold period pursuant to applicable securities laws.