Dr. Ross Gorrell reports,
VANCOUVER, Feb. 5, 2015 /CNW/ - Petromin Resources Ltd. (the "Company") is pleased to announce that it has completed closing on the second tranche of its non-brokered private placement ("Private Placement") announced on September 10, 2014. Four hundred thousand common shares at a price of $0.03 were issued for gross proceeds of $12,000. The same amount of common share purchase warrants were issued to the placee at the exercise price of $0.05 in the first year and $0.10 in the second year, expiring February 02, 2017.
All shares issued with respect to the Private Placement are subject to a hold period of four months, expiring June 05, 2015.
The proceeds from the above financing will be used to fund the operation of existing producing wells and for general working capital of the Company.
Neither 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.
SOURCE Petromin Resources Ltd.
For further information: PETROMIN RESOURCES LTD., 1120-1090 W. Pender Street, Vancouver, B.C. V6E 2N7, Telephone: (604) 682-8831, Fax: (604) 682-8683