Petro Novus AG Announces CHF 10,000,000 Private Placement Financing


CALGARY, April 6 /CNW Telbec/ - Petro Novus AG ("PN") (Frankfurt Stock Exchange: PN5) is pleased to announce tha
t it has entered into an agreement with Paradigm Capital Inc., as agent (the "Agent") pursuant to which the Agent has agreed to complete a private placement offering, on a "best efforts" basis, of common bearer shares ("Common Shares") to raise a minimum of CHF 5 million and up to CHF 10 million (the "Offering").  PN is also in advanced negotiations with parties in Europe for a concurrent offering in Europe and other jurisdictions.  The issue price of the Common Shares will be determined in the context of the market ("Issue Price").  The Offering is expected to close on or about May 12, 2011 (the "Closing Date").  The net proceeds from the Offering will be used to fund ongoing exploration and development expenditures, working capital and for general corporate purposes.

Closing is conditional upon conditions customary for transactions of this type, including the receipt of all necessary regulatory and third party approvals.

In addition, Petro Novus AG announces that on March 31, 2011, the Board of Directors granted an aggregate of 3,200,000 incentive stock options, to be allocated to Directors, Officers and Employees of the Company, to purchase common shares in the capital stock of the Company pursuant to its stock option plan.  The stock options are exercisable at a price of CHF 0.50 per share, CHF 1.00 per share, and CHF 1.50 per share, have a term of seven years, and are subject to vesting restrictions over a period of 24 months from the date of issue.  Petro Novus AG also announces that it has restructured a debt obligation of CHF 460,000 at a price of CHF 0.50 per share.

About Petro Novus AG
Petro Novus AG, a Swiss corporation, is an independent oil and gas company with an initial focus on the exploration and development of crude oil and natural gas properties in the central and southern regions of the Republic of Armenia.  We utilize our strengths in mergers and acquisitions, and capital and resource management, to acquire large potential, overlooked and underexplored resource properties.  We plan to proactively minimize exploration risk and build long term shareholder value by utilizing state of the art technologies, and by employing the services of veteran exploration and project managers.  Our goal is to grow through future acquisitions and the development of long-life producing properties. Petro Novus AG's shares trade on the Frankfurt Stock Exchange under the symbol "PN5".

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Cautions Regarding Forward-Looking Statements:

Statements contained herein that are not historical facts are forward-looking statements within the meaning of the U.S. Securities Act, as amended.  Those statements include statements regarding the intent, belief or current expectations of the company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company's plans, objectives, projections, beliefs, expectations and intentions and other statements identified by words such as "guidance," "projects," "may," "could," "would," "should," "believe," "expect," "anticipate," "estimate," "intend," "plan," or similar expressions. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the company's ability to obtain additional financing and the demand for the company's products. The company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events.


For further information:

Source: Petro Novus AG
For further information please contact :

Cameron S. King, MBA
Petro Novus AG
Nordstrasse 190,
8037 Zürich

Profil de l'entreprise


Renseignements sur cet organisme


Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .


Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.


Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.