CALGARY, ALBERTA–(Marketwired – Feb. 28, 2017) – Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX:PRQ) is pleased to announce the closing of its previously announced acquisition of certain oil and natural gas interests in the Ferrier area (the “Acquisition”) and the concurrent closing of its non-brokered private placement of 4,078,708 common shares of the Company (“Common Shares”) at a purchase price of $2.53 per Common Share, for aggregate gross proceeds of $10,319,131 (the “Private Placement”). A portion of the net proceeds of the Private Placement were used to fund the Acquisition and Petrus expects the remainder will be used to fund the Company’s 2017 capital program.
The Common Shares issued pursuant to the Private Placement are subject to a statutory hold period under applicable securities legislation until July 1, 2017.
This press release does not constitute an offer to sell or a solicitation of any offer to buy the Common Shares in the United States. The Common Shares have not been and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such act.
Petrus is a public Canadian oil and gas company focused on property exploitation, strategic acquisitions and risk-managed exploration in Alberta.