Category: News Releases Petrostar Petroleum Corporation: Flow-Through Share Financing Increased
Mr. Robert Sim reports
Petrostar Petroleum Corporation (TSX-Venture: PEP, FSE: LMQ, the “Company”), pursuant to its news issued in Stockwatch dated Dec. 10, 2007, plans to increase its proposed non-brokered private placement of up to 3.25 million units of the company at a price of 20 cents per unit for a total of $650,000. Each unit will consist of one common flow-through share in the capital of the company and one non-transferable share purchase warrant. Each full warrant will entitle the holder thereof to purchase one additional common share of the company for a period of two years following the closing date at a price of 25 cents per share in the first year and 30 cents per share in the second year.
The private placement is subject to the acceptance of the TSX Venture Exchange and all shares issued there under will be subject to a four-month hold period.
We seek Safe Harbor.
On behalf of the Board of Directors,
Robert A. Sim
President and Director
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