Petromin Resources Ltd. (TSXV:PTR) announced a non-brokered private placement of up to 14,966,666 units at CAD 0.03 per unit for gross proceeds of up to CAD 449,000 on March 5, 2015. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at CAD 0.05 per share for a period of first 12 months and at CAD 0.10 per share for remaining 12 months.

The company will pay finder's fees of 10% of the proceeds derived from the shares sold through the finders. The securities to be issued are subject to a hold period of four months. The transaction is subject to approval of the TSX-Venture Exchange.