Petrichor Energy Inc.
TSX VENTURE : PTP
FRANKFURT : YQN

April 04, 2011 16:02 ET

Petrichor Closes $500,000 Equity Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 4, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Petrichor Energy Inc. (TSX VENTURE:PTP)(FRANKFURT:YQN) (the "Company" or "PTP") announces that on April 4, 2011 it closed its private placement financing for gross proceeds of $500,000.

In accordance with the provisions of the Subscription Agreements received, on April 4, 2011 the Company issued a total of 2,000,000 Units at $0.25 per Unit, each Unit consisting of one common share and one (1) share purchase warrant, each warrant entitling the holder to purchase one (1) additional common share for a period of 24 months at $0.35 per share from April 4, 2011 until April 3, 2013.

All of these shares, including any shares issued on exercise of the warrants will be subject to a hold period under applicable Canadian securities laws expiring on August 5, 2011, and will be subject to such further restrictions on resale as may apply under applicable foreign securities laws.

ON BEHALF OF THE BOARD

Jurgen Wolf, Director

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 for the adequacy or accuracy of this release.

Contact Information

  • Petrichor Energy Inc.
    Jurgen Wolf
    Director
    (604) 718-2800
    (604) 718-2808 (FAX)