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Petro One Energy Corp increases funding by $2,000,000 on institutional demand

Monday, 18 Aug 2014 07:45am EDT 

Petro One Energy Corp:Says its $4,000,000 private placement announced on July 28, has been fully subscribed and that, due to high demand.Says it has placed an additional $2,000,000 on the same terms, principally with institutional investors and fund managers.Says it will issue 8,000,000 units at the price of $0.25 per unit pursuant to the second private placement.Bringing the gross proceeds from the two financings to $6,000,000.Proceeds from the second private placement will be used for its general working capital purposes.Closing of both financings is scheduled for Sept. 2. 

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-0.0050 -7.69%
1:56pm EDT