Petrolia Inc.
TSX VENTURE : PEA

Petrolia Inc.

November 23, 2009 15:44 ET

Petrolia Announces a Non-Brokered Private Placement for $5,000,000

QUEBEC CITY, QUEBEC--(Marketwire - Nov. 23, 2009) - Petrolia inc. ("Petrolia") (TSX VENTURE:PEA) announces that it will proceed with a non-brokered private placement of units and flow-through shares for $5,000,000, consisting of up to $2,500,000 of units and up to $2,500,000 of flow-through shares (the " Offering").

Each flow-through share will be offered at a price of $0.95 per share.

Each unit will be offered at a price of $0.85 per unit and will be comprised of one (1) common share and one-half (1/2) of a common share purchase warrant, each whole warrant entitling its holder to subscribe to one (1) common share at a price of $1.30 for a period of 24 months following the closing of the Offering.

Finders' fees of a maximum amount of 6% of the proceeds of the Offering may be paid in connection with the Offering. All securities will be subject to a hold period of four (4) months and one (1) day following the closing of the Offering.

About Petrolia

Petrolia is a junior oil and gas exploration company which owns interests in oil and gas licenses covering 15,000 km2 (3.7 million acres),which represents about 18% of the Quebec territory under lease. These leases, the majority of which are located on the Gaspe Peninsula and Anticosti Island, are considered to be very promising and represent almost 70% of Quebec's land-based oil potential. Petrolia has approximately 41,000,000 shares outstanding.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

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