Petlife Pharmaceuticals, Inc. (OTCPK:EVGI.D) announced that it intends to conduct a private placement of common stock for minimum gross proceeds of $2.50 million and maximum gross proceeds of $5 million on September 22, 2014. The transaction will involve participation from an international investment fund. The transaction commitment will be finalised upon a month of negotiations and due diligence.

The company expects to close the transaction in 45 days or less subject to remaining customary due diligence and documentation.