Pétrolia Inc. has closed the investment initially announced on September 1, 2015, in the total amount of $5,150,000, constituting the first phase of financing for the Bourque property.
Ressources Québec Inc. (Ressources Québec) completed its private placement in the amount of $2,881,800. Ressources Québec also invested $918,200 in the Bourque property by way of a joint venture created by the Corporation, Ressources Québec and TUGLIQ Energy Corporation (TUGLIQ Energy). The investment of TUGLIQ Energy in the Bourque property by way of the same joint venture is in the amount of $1,350,000.
Certain directors of Pétrolia and members of their families are also participating in the private placement and these investments total $88,200.