CALGARY, June 21 /CNW/ - (TSX.V: PBT, FSE: P5W) Pemberton Energy Ltd. (Pemberton) is pleased to announce that it is increasing the percentage of participation in the Avon Hills Viking asset drill program in Kindersley, SK.
In order to increase this percentage participation Pemberton will proceed with a private placement for up to $500,000 through the sale of both non-flow through and flow through units priced at five cents per unit. Each non flow through unit shall consist of one share and one non flow through share purchase warrant, each warrant entitling the holder to purchase one additional share for a period of two years at 10 cents per share. Each flow through unit shall consist of one flow-through share and one non-flow-through warrant entitling the holder to purchase one additional non-flow-through share for a period of two years from the closing date at an exercise price of 10 cents per share. Cash and stock commission at the maximum allowable by TSX Venture Exchange may be payable to agents. This private placement is subject to approval by the TSX Venture Exchange.
Pemberton continues negotiations with its Joint Venture partners on this drill program.
On behalf of Board of Directors
Ms. Miroslava Antonuk, Director
TSX VENTURE EXCHANGE HAS NEITHER APPROVED OR DISAPPROVED OF THE CONTENTS HEREIN
SOURCE PEMBERTON ENERGY LTD.
For further information: For further information: PEMBERTON ENERGY LTD., 328, 1500 14th Street SW, Calgary, AB, T3C 1C9, PHONE: 403-269-8424, FAX: 403-269-8477