Premium Exploration, Inc. (TSXV:PEM) announced a non-brokered private placement of 5,000,000 units at CAD 0.20 per unit for gross proceeds of CAD 1,000,000 on February 7, 2014. Each warrant entitles the holder to acquire an additional share at a price of CAD 0.30 per share for a period of 18 months from the date of issuance. The warrants have a forced exercise clause to the effect that if the shares trade at greater than CAD 0.60 for 10 consecutive trading days following the expiry of the hold period, the company may, on written notice to the holders of the warrants, reduce the exercise period of the warrants to a date that is not less than 30 days from the date of the notice. The company will pay cash finder's fees of 8% and will issue 8% finder's warrants, at an exercise price of CAD 0.30 for a period of 18 months for units placed by qualified individuals. The securities issued will be subject to a hold period of four months and a day from the date of closing. The transaction is subject to final acceptance from the TSX Venture Exchange.

On March 7, 2014, the company amended the terms of the transaction. The company will now issue 6,666,667 units at a price of CAD 0.15 per unit for gross proceeds of CAD 1,000,000.

On April 9, 2014, Premium Exploration, Inc. cancelled the transaction.