Petrolia Announces a Proposed Private Placement
(firmenpresse) - QUEBEC CITY, QUEBEC -- (Marketwired) -- 02/26/15 -- Petrolia (TSX VENTURE: PEA) (the "Corporation") is pleased to announce that it is seeking to complete a private placement of up to 3,437,500 "flow-through" shares at a price of $0.80 per share, for maximum gross proceeds of $2,750,000. The current volume weighted average price of the Corporation's common shares is $0.5705 for the 20 consecutive preceding trading days. This private placement is expected to close on or before March 13, 2015. Such proceeds will be used by the Corporation to incur Canadian exploration expenses on the Corporation's properties located in the Province of Quebec.
As consideration for their services, Marquest Capital Markets and Secutor Capital Management Corp. will receive a finder's fee equal to 6% of the gross proceeds of the offering, to be paid in cash.
All securities issued pursuant to this private placement will be subject to a four (4) month hold period.
The closing of this private placement is subject to the approval of the TSX Venture Exchange.
About Petrolia
Petrolia is a junior oil and gas exploration company which owns interests in oil and gas licenses covering 16,000 km2 (4 million acres), which represents almost 23% of the Quebec territory under lease. The closing of a partnership on Anticosti Island has led to the creation of Anticosti Hydrocarbons L.P., a limited partnership in which Petrolia holds a 21.7% interest. In order to carry out the project's operations, Petrolia Anticosti Inc., a subsidiary of Petrolia, was designated project operator. Petrolia is a Quebec company whose objective is to develop oil from here, by the people here, for here. Petrolia currently has 77,616,695 shares issued and outstanding.
Forward-looking statements
Certain statements made herein may constitute forward-looking statements. These statements relate to future events or the future economic performance of Petrolia and carry known and unknown risks, uncertainties and other factors that may appreciably affect their results, economic performance or accomplishments when considered in light of the content or implications or statements made by Petrolia. Actual events or results could be significantly different. Accordingly, investors should not place undue reliance on forward-looking statements. Petrolia does not intend and undertakes no obligation to update these forward-looking statements.
Neither the 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.
Contacts:
Alexandre Gagnon
President and Chief Executive Officer
418-657-1966
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Datum: 26.02.2015 - 21:50 Uhr
Sprache: Deutsch
News-ID 374714
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Town:
QUEBEC CITY, QUEBEC
Kategorie:
Oil & Gas
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