Petro Uno Resources Ltd. Announces Closing of $5 Million Financing
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ PETRO UNO RESOURCES LTD. (PUP: TSX Venture Exchange)
All securities issued pursuant to the Financing are also subject to a four month hold period expiring on
Petro Uno intends to use the proceeds from the Financing to complete its obligations under the farm-in letter agreement dated
Blackmont Capital Inc. ("Blackmont") acted as agent for the Financing. In consideration for their efforts, Blackmont received a cash commission of
This news release does not constitute an offer to sell or a solicitation of any offer to buy securities in the
The Company also granted options to purchase 1,450,000 common shares of the Company to certain directors, officers and employees of the Company, at an exercise price of
About Petro Uno Resources Ltd.
Petro Uno is a junior oil and gas company trading on the TSX Venture Exchange under the symbol "PUP". Petro Uno currently produces approximately 35-40 BOE/d of light crude oil from wells located in Alberta,
Forward Looking Information
Information set forth in this press release contains forward-looking statements relating to the use of proceeds of the Financing and are based on assumptions as of the date hereof. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Petro Uno's control. Readers are cautioned that the assumptions and factors discussed in this press release are not exhaustive and that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise, and as such, undue reliance should not be placed on forward-looking statements. The use of proceeds of the Financing could differ materially from those expressed in such forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur as specified in the press release or at all. Unless required by law, Petro Uno disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements are expressly qualified by these cautionary statements.
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
For further information: William Ambrose, President and Chief Executive Officer, 725, 435-4th Avenue S.W., Calgary, Alberta, T2P 3A8, (403) 410-3371
Share this article