Petromin Resources Ltd. (TSXV:PTR) announced a non-brokered private placement of up to 8,333,333 units at CAD 0.03 per unit for gross proceeds of up to CAD 250,000 on September 10, 2014. 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. In the event of oversubscribed, the company will accept subscriptions up to 50% above the maximum. 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.

On September 16, 2014, the company announced that the offering is available to all shareholders across Canada who hold common shares of the company on or before September 9, 2014, and continue to hold common shares at the time of closing.

On November 21, 2014, the company issued 1,275,000 common shares for proceeds of CAD 38,250 in its first tranche. The company will pay finder's fee of CAD 1,425 in connection with the transaction. The warrants issued in this tranche will expire on November 19, 2016. All shares issued with respect to the transaction are subject to a hold period of four months, expiring March 19, 2015.

On December 8, 2014, the TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction included participation from nine placees. Leede Financial Markets Inc. acted as the finder to the company.

On February 4, 2015, the TSX Venture Exchange has accepted for filing documentation with respect to the second tranche for 400,000 shares for gross proceeds of CAD 12,000. The shares will be issued to Arthur Ross Gorrell, Chief Executive Officer of the company.

On February 5, 2015, Petromin Resources Ltd closed the transaction. The company issued 400,000 shares for CAD 12,000 in the second tranche bringing the total raised in the transaction to CAD 50,250. The warrants issued in the last tranche expire on February 2, 2017. The shares issued in the tranche are subject to a hold period of four months, expiring June 05, 2015.