Panorama Petroleum Inc.

June 27, 2014 16:46 ET

Panorama Petroleum Inc.: Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 27, 2014) - Panorama Petroleum Inc. (TSX VENTURE:PPA) (formerly Azure Resources Corporation, the "Corporation") is pleased to report that it has received TSX Venture Exchange final acceptance for a private placement announced on June 19, 2014. The Corporation sold 939,999 Units for gross proceeds of $140,999.85. Each Unit consists of one common share of the Company and one share purchase warrant entitling the holder to acquire an additional common share of the Company for $0.25 prior to December 26, 2014. No finders' fees were paid in connection with the placement.

This placement follows an over-subscribed placement of 10,398,933 Units (on the same terms) resulting in gross proceeds of $1,559,840 which was closed by the Corporation on June 18th.

Net proceeds of both private placements will be applied to general corporate purposes.

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.

Contact Information

  • Panorama Petroleum Inc.
    Dr. Waseem Rahman
    (604) 684-2401
    (604) 684-2407 (FAX)