Petromin Resources Ltd. (TSXV:PTR) announced a non-brokered private placement of 6,000,000 units at a price of CAD 0.05 per unit for gross proceeds of CAD 0.3 million on July 20, 2015. Each unit will be comprised of one common share of the company and one common share purchase warrant. Each warrant will be exercisable to acquire one additional common share of the company at an exercise price of CAD 0.10 per share, at any time for a 2 year period following issuance.

The company may pay finder's fee of 10% cash and 10% finder's warrants. Each finder's warrant will entitle the qualified holder thereof to purchase a common share at a price of CAD 0.10 per share, at any time for a one year period following issuance. The securities being issued are subject to a four-month hold period.

The transaction is subject to TSX Venture Exchange approval.