Petrolia: Closing of a Private Placement of $3,000,000 With Pilatus Energy
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RIMOUSKI, QUEBEC, Jan 15 (MARKET WIRE) --
Petrolia (TSX VENTURE: PEA) has completed its private placement of
$3,000,000 announced on October 10, 2007 with Pilatus Energy.
Pursuant to such placement, Petrolia issued to Pilatus Energy 3,000,000
common shares at a price of $1.00 per share and 3,000,000 warrants, each
giving the right to subscribe a common share at a price of $1.00 per
share for the next 18 months. These securities are subject to a holding
period of four months and one day. No finder's fee was paid in connection
with the placement.
The proceeds will be used for the development of the Haldimand oil field
and the other properties of Petrolia, as well as for its working capital.
Pursuant to this placement, Petrolia now has 34,160,054 issued and
outstanding shares.
About Petrolia
Petrolia is a junior oil exploration company operating mainly in
Gaspesie. Petrolia holds exploration rights to more than 2.4 million
acres (9,600 km2). With its right of first refusal, Petrolia also holds
additional interests in more than 1.4 million acres (5,885 km2) held by
Junex.
The TSX Venture Exchange disclaims all responsibility regarding the
credibility or accuracy of this press release.
Contacts:
Petrolia Inc.
Isabelle Proulx
Investor Relations
418-657-1966 (Quebec)
418-724-0112 (Rimouski)
info@Petroliagaz.com
Petrolia Inc.
Andre Proulx
President
418-724-0112
president@PA-A?A 1/2troliagaz.com
www.Petroliagaz.com
Copyright 2008, Market Wire, All rights reserved.
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