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Petrolia seeks to complete a private placement


Published Mar 2, 2015
Pétrolia-5

Pétrolia 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.

Tags: Pétrolia




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