Markets

Petrolia Closes First Tranche of Private Placement for $1.1M

Petrolia (PEA.V) closed the first tranche of its private placement, issuing an aggregate of 936,550 flow-through shares at a price of $1.20 per share, for gross proceeds of $1,123,860.

The company will hold an additional closing for a second tranche of its private placement.

Taking into consideration the net proceeds of this private placement, the company now has approximately $9 million in cash to fund its exploration program and working capital requirements.

PEA shares shed a penny to $0.92.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More