GREY:CUDBF - Post by User
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Power4Playon Sep 20, 2014 11:40am
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Petro One receives $500,000 payment from Korea Myanmar
Petro One receives $500,000 payment from Korea Myanmar Petro One receives $500,000 payment from Korea Myanmar 2014-09-19 18:34 ET - News Release Mr. Peter Bryant reports PETRO ONE FUNDING CONFIRMED Petro One Energy Corp. has received bank confirmation that the $500,000 payment due on Sept. 19, 2014, pursuant to the company's agreement with Korea Myanmar Development Company Ltd. has been received and was on deposit prior to the close of business on Sept. 19, 2014. An additional $500,000 remains payable on Sept. 26, 2014, and the balance of $2-million is payable on or before Oct. 7, 2014, to complete the $6-million in private placement financing scheduled to close on that date. The remaining $3.5-million of private placement financing is currently held on deposit pending closing. The company looks forward to working with KMDC to develop its oil properties and grow and prosper together through production.