Petrolia Inc. Closes a Private Placement in the Amount of $1,250,015.22
(firmenpresse) - QUEBEC CITY, QUEBEC -- (Marketwired) -- 07/15/16 -- Petrolia Inc. (TSX VENTURE: PEA) ("Petrolia" or the "Corporation") is pleased to announce that it has closed a private placement. The Corporation has issued an aggregate of 4,629,686 "flow-through" shares at a price of $0.27 per share for gross proceeds of $1,250,015.22.
The proceeds of this private placement will be used by the Corporation to incur Canadian exploration expenses on the Corporation''s Bourque property located in the Province of Quebec and such exploration expenses will be fully incurred on or before December 31, 2017 in accordance with the Corporation''s undertakings to the subscribers of this private placement.
As consideration for their services, Marquest Capital Markets and Secutor Capital Management Corp. received finder''s fees equal to 6% of the gross proceeds of the offering.
All securities issued pursuant to this private placement are subject to a hold period ending on November 15, 2016.
As a result of this issuance of securities, the Corporation has 97,049,881 common shares issued and outstanding.
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 has 97,049,881 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:
For further information:
Alexandre Gagnon
President and Chief Executive Officer
418-657-1966
For interviews:
Jean-Francois Belleau
Director of Public and Government Affairs
418-657-1966
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Datum: 15.07.2016 - 18:00 Uhr
Sprache: Deutsch
News-ID 1447240
Anzahl Zeichen: 2885
contact information:
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Town:
QUEBEC CITY, QUEBEC
Phone:
Kategorie:
Oil & Gas
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