Category: News Releases Petrostar Closes Private Placement
Petrostar Closes Private Placement
June 30, 2011, Victoria, BC – Petrostar Petroleum Corp. (TSX-Venture: PEP, Frankfurt: LMQ; “Petrostar” or the “Company”) is pleased to announce it has received final TSXV approval for a non-brokered Private Placement of 4,358,920 units at $0.125 per unit for gross proceeds of $544,865.
Each unit shall consist of a common share and a two-year common share purchase warrant. Each warrant shall entitle the purchaser to purchase an additional common share of the Company at $0.125 per share in the first year and $0.15 per share in the second. Warrants will expire June 29, 2013.
All securities issued under this private placement are subject to a four-month hold period expiring on October 29, 2011.
All funds realized will be used for general working capital and future property acquisitions.
For further information please contact Bruce Scafe, President / CEO at 1-877-737-8864.
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