Petromin Resources Ltd. announced that it has received CAD 0.19 million in funding.
The transaction will see participation from nine placees for 3,250,000 units. The company will pay CAD 2,000 as finder's fee to Top Notch Marketing Ltd.
On April 23, 2013, the company closed the first tranche. The company issued 3,250,000 units for proceeds of CAD 162,500. The warrants issued expire on April 24, 2015. The company will pay a finder's fee of CAD 2000 in connection with the transaction. All shares issued with respect to the transaction are subject to a hold period of four months, expiring August 24, 2013. On the same day, the TSX Venture Exchange accepted the filing for the documentation of the transaction.
On May 31, 2013, Petromin Resources Ltd. closed the transaction. The company announced that it has received CAD 30,000 in the second and final tranche. The company issued 600,000 units. The warrants issued expire on October 1, 2015. All shares issued with respect to the transaction are subject to a hold period of four months, expiring October 1, 2013. The company received total gross proceeds of CAD 192,500 in the transaction. The company received net proceeds of CAD 190,500 in the transaction.