Petrostar Closes Non-Brokered Private Placement
October 31 2013 - 6:44PM
Access Wire
Petrostar Petroleum Corporation
("Petrostar" or the "Company") wishes to announce
that, further to the Company's news release dated September 17,
2013, it has closed a non-brokered private placement of 378,332
units at a price of $0.15 per unit for total proceeds of $56,749.80
(the "Private Placement"). Each unit consists of one common share
and one full share purchase warrant exercisable at a price of $0.25
for a period of one year. All securities issued under the Private
Placement are subject to a hold period of four months and a
day.
No finder's fees were
paid in connection with the Private Placement and the Company plans
to use the proceeds of the Private Placement for general working
capital purposes.
About
Petrostar Petroleum Corp.
Petrostar
is a Tier 2 Canadian-based oil and gas exploration company trading
on the TSX Venture Exchange with property assets in both Alberta
and Saskatchewan.
For further information,
please contact:
Bruce Scafe, IR and
Communications Officer
1-877-737-8864 or
bscafe@petrostarpetroleum.com
Alternate contact:
Mackenzie Loree,
CEO
1-403-861-6779 or
mloree@petrostarpetroleum.com
Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
FORWARD LOOKING
INFORMATION
Certain information
in this news release is forward-looking within the meaning of
certain securities laws, and is subject to important risks,
uncertainties and assumptions. This forward-looking information
includes, among other things, information with respect to the
Company's beliefs, plans, expectations, anticipations, estimates
and intentions. The words "may", "could", "should", "would",
"suspect", "outlook", "believe", "anticipate", "estimate",
"expect", "intend", "plan", "target" and similar words and
expressions are used to identify forward-looking information. The
forward-looking information in this news release describes the
Company's expectations as of the date of this news
release. The results or
events anticipated or predicted in such forward-looking information
may differ materially from actual results or events. Material
factors which could cause actual results or events to differ
materially from a conclusion, forecast or projection in such
forward-looking information include, among others, risks arising
from general economic conditions and adverse industry
events.
When relying on
forward-looking information to make decisions, investors and others
should carefully consider the foregoing factors and other
uncertainties and potential events. The Company has assumed that
the material factors referred to in the previous paragraph will not
cause such forward-looking information to differ materially from
actual results or events. However, the list of these factors is not
exhaustive and is subject to change and there can be no assurance
that such assumptions will reflect the actual outcome of such items
or factors.
THE FORWARD-LOOKING
INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE
EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE
AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS
SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION
AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE.
WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE
THIS INFORMATION ON AT ANY PARTICULAR TIME.
This
news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The
securities being offered have not been and will not be registered
under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act"), or any state securities laws, and may not
be offered or sold within the United States or to, or for the
account or benefit of, U.S. Persons unless registered under the
U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.
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