Sunset Pacific Petroleum Ltd (TSXV:SPK) announced a non-brokered private placement of 4,000,000 units at a price of CAD 0.05 per unit for gross proceeds of up to CAD 200,000 on March 8, 2016. 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 an exercise price of CAD 0.07 per share for a period of five years from the closing.