VANCOUVER, May 31, 2013 /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 March 8, 2013. 600,000 common shares at a price of $0.05 were issued for gross proceeds of $30,000. 300,000 common share purchase warrants were issued to the placees at the exercise price of $0.10, expiring October 1st , 2015.
All shares issued with respect to the Private Placement are subject to a hold period of four months, expiring October 1st , 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