VANCOUVER, BRITISH COLUMBIA–(Marketwired – Jan. 25, 2017) – Panorama Petroleum Inc. (the “Company”) (TSX VENTURE:PPA) is pleased to announce that TSX.V has accepted the second tranche of Company’s non-brokered private placement announced on November 25, 2016. The second and final tranche of the placement consists of the issuance of 6,500,000 shares at $0.02 per share for net proceeds of $130,000.
Proceeds will be used for staff salaries, legal and third-party corporate expenses as well as for the evaluation of new projects.
All shares issued under this private placement will have a hold period of four months and one day. No fees or commissions will be paid in relation to this private placement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility or the adequacy or accuracy of this release. Certain information provided in this news release contains forward-looking statements that by their nature are subject to numerous risks and uncertainties and readers are cautioned that actual results may vary considerably from those forecasted.
Chief Financial Officer
(604) 684-2407 (FAX)