Petromin Resources Ltd. (TSXV:PTR) announced a non-brokered private placement of up to 5,000,000 units at CAD 0.05 per unit for gross proceeds of up to CAD 250,000 on March 8, 2013. Each unit consists of one common share and one half of one share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at CAD 0.10 per share for a period of 12 months from the closing date. The company will pay a finder's fee consisting of a cash payment of 10% of the proceeds derived from the units sold through the finders. The securities issued will be subject to a four month hold period.

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.