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PETROMIN COMPLETES FIRST TRANCHE OF PRIVATE PLACEMENT
 
PETROMIN COMPLETES FIRST TRANCHE OF PRIVATE PLACEMENT

Wednesday, 04 November 2015

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 October 26, 2015. 500,000 common shares at a price of $0.03 were issued for gross proceeds of $15,000. The same amount of common share purchase warrants were issued to the placees at the exercise price of $0.05 in the first year and $0.10 in the second year, expiring October 28, 2017. 

 

All shares issued with respect to the Private Placement are subject to a hold period of four months, expiring February 28, 2016.

 

The proceeds from the above financing will be used to pay outstanding trade payables and other general working capital of the Company. 

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