HOUSTON, TX–(Marketwired – July 24, 2017) – Petrolia Energy Corporation (OTCQB: BBLS) (Petrolia) announces today that it has successfully closed its $2 million Series A preferred stock offering and has converted all of its long-term debt to equity.
“We continue to execute on our long term strategy to explore and develop high-probability, low risk Oil & Gas Properties. We have now positioned ourselves as a debt free company to further seek new opportunities for our continued growth and increase our presence in the marketplace. This concerted effort, combined with Management’s resolve to acquire attractive acreage in strategic areas, will further position Petrolia for the long-haul,” commented Zel C. Khan, CEO of Petrolia.
James Burns, Petrolia’s President contributed, “These significant milestones clearly demonstrate the commitment and confidence insiders have in the Company.”
Details of these transactions have been filed in an 8-K released earlier today with the Securities and Exchange Commission and on the Company’s website at www.petroliaenergy.com
About Petrolia Energy Corporation
Petrolia Energy Corporation is a Houston-based, oil exploration and production company. With operations in Texas, Oklahoma and New Mexico, the Company focuses on redeveloping existing oil fields in well-established oil rich regions of the U.S., employing industry-leading technologies to create added value.
Petrolia is committed to achieving its goals through conscientious partnership with the communities in which we operate and through operations that extend beyond regulatory requirements and embrace responsible environmental stewardship. We firmly believe we can maximize a field’s potential value for our shareholders and employees, while protecting the environment and enhancing local communities.