Petro Uno Resources Ltd. Announces Completion of Initial Public Offering



    CALGARY, Sept. 14 /CNW/ - Petro Uno Resources Ltd. ("Petro Uno" or the
"Company"), a capital pool company, announced today that it has completed its
initial public offering of common shares in the capital of the Company
("Common Shares"). The Company sold, through Emerging Equities Inc., as agent,
3,000,000 Common Shares at $0.20 per share for aggregate gross proceeds of
$600,000.00 (the "Offering"). Petro Uno has received conditional approval for
the listing of its Common Shares on the TSX Venture Exchange (the "TSXV").
    Emerging Equities Inc., for acting as agent for Petro Uno with respect to
the Offering, received a corporate finance fee of $10,000.00 plus GST, a cash
commission of $60,000.00, being an amount equal to 10% of the gross proceeds
of the Offering, and an option entitling it to purchase for a period of 18
months from the date the Common Shares are listed on the TSXV, at a price of
$0.20 per share, 300,000 Common Shares, being a number of Common Shares equal
to 10% of the Common Shares sold pursuant to the Offering.
    Also in connection with the Offering, the directors and officers of Petro
Uno were granted an aggregate of 600,000 options ("Options") to acquire Common
Shares pursuant to the Company's stock option plan (the "Option Plan"), such
Options vesting immediately, having an exercise price of $0.20 per Option and
having an expiry date of five years from the date of the grant. Specifically,
William Ambrose (President, Chief Executive Officer and Chairman) was granted
300,000 Options and Donald Boykiw (Director), Art Halleran (Director) and
Michelle Wiggins (Chief Financial Officer) were each granted 100,000 Options.
There are currently 600,000 Common Shares reserved for issuance under the
Option Plan, being 10% of the total number of issued and outstanding Common
Shares. The Option Plan has received conditional approval by the TSXV and
remains subject to approval by the Company's shareholders.

    About Petro Uno
    ---------------

    Petro Uno is a capital pool company whose principal business is the
identification and evaluation of assets or businesses with a view to
completing a "Qualifying Transaction".

    The TSX Venture Exchange has in no way passed upon the merits of this
    transaction and has neither approved or disapproved of the contents of
    this press release.




For further information:

For further information: on Petro Uno contact William Ambrose, President
and Chief Executive Officer, 1120, 444 - 5th Avenue S.W., Calgary, AB, T2P
2T8, (403) 355-8890

Organization Profile

PETRO UNO RESOURCES LTD.

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