CALGARY, Alberta, Jan. 18, 2019 (GLOBE NEWSWIRE) — GRANITE OIL CORP. (“Granite” or the “Company”) (TSX: GXO) (OTCQX: GXOCF) is pleased to announce that it has closed the second and final tranche of its non-brokered private placement (“Offering”) of common shares (the “Shares”) at a price of $0.52 per Share, for aggregate gross proceeds of approximately $437,171. Together with the first tranche closing that was previously announced by the Company on December 21, 2018, the Corporation has received aggregate gross proceeds of approximately $2 million. The proceeds of the Offering will be used by Granite for general working capital purposes. The completion of the Offering is subject to the Company receiving all necessary regulatory approvals, including final approval of the Offering from the Toronto Stock Exchange.
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