Permex Petroleum Announces Non-Brokered Private Placement of up to C$1.5M of Units
Vancouver, British Columbia based Permex Petroleum Corporation (CSE: OIL) announced today that it is conducting a non-brokered private placement financing of a minimum of 2,500,000 units up to a maximum of 7,500,000 units at a price of C$0.20 per Unit, for minimum aggregate proceeds of $500,000 up to a maximum of C$1,500,000. Each Unit will consist of one common share in the capital of the Corporation and one Common Share purchase warrant, with each Warrant entitling the holder thereof to purchase one Common Share of the Corporation at an exercise price of C$0.30 per Common Share for a period of 24 months from the closing of the Offering, subject to accelerated expiry in the event the price of the Corporation's shares closes at or greater than C$0.50 for ten consecutive trading days on the Canadian Securities Exchange.
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