Sunset Pacific Petroleum Ltd (TSXV:SPK) announced a non-brokered private placement of 15,000,000 units at a price of CAD 0.02 per unit for gross proceeds of CAD 300,000 on May 25, 2017. Each unit will consist of one common share and one share purchase warrant. Each warrant entitles the holder to acquire one common share at an exercise price of CAD 0.05 per share for a period of five years. The transaction is subject to TSX Venture approval.