Sunset Pacific Petroleum Ltd (TSXV:SPK) announced a non-brokered private placement of 10,000,000 units at a price of CAD 0.02 per unit for gross proceeds of CAD 200,000 on November 8, 2017. Each unit consists of one common share and one common share purchase warrant. Each warrant can be exercised to acquire one common share at a price of CAD 0.05 per share for a period of 5 years. The transaction will include participation from existing shareholder of the company. The transaction is expected to close on or before November 30, 2017, subject to approval of the TSX Venture Exchange, or such other date as may be determined by the company in compliance with TSXV policies. All securities issued in the transaction will be subject to a statutory four month hold period.