CALGARY, ALBERTA--(Marketwired - June 2, 2014) - PetroShale Inc. ("PetroShale" or the "Company") (TSX VENTURE:PSH) is pleased to announce that it has closed its previously announced non-brokered private placement (the "Private Placement") of 5 million common voting shares of the Company ("Shares") for total gross proceeds of $6.5 million.
Each of the directors and officers of the Company participated in the Private Placement subscribing for an aggregate of approximately 3.4 million Shares.
The Shares issued pursuant to the Private Placement are subject to a statutory hold period of four months and one day expiring on October 3, 2014.
PetroShale is a growing oil company engaged in the acquisition and consolidation of interests in the most prolific and proven areas of the Williston Basin in North Dakota and Montana.
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.