Dr. Ross Gorrell reports,
VANCOUVER, April 23, 2013 /CNW/ - Petromin Resources Ltd. (the "Company") is pleased to announce that it has completed closing on the first tranche of its non-brokered private placement ("Private Placement") announced on March 8, 2013. Three million two hundred fifty thousand common shares at a price of $0.05 were issued for gross proceeds of $162,500. One million six hundred twenty five thousand common share purchase warrants were issued to the placees at the exercise price of $0.10, expiring April 24, 2015. The Company will pay a finder's fee of $2000 in connection with the Private Placement.
All shares issued with respect to the Private Placement are subject to a hold period of four months, expiring August 24, 2013.
The proceeds from the above financing will be used to fund the acquisition of additional oil and gas lands, the work-over and recompletion of some existing wells and for general working capital.
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