Funding UpdateGlad I bought in today. Monday it will Likely cost more.
Press release from Marketwire
Petro One Funding Update
Friday, September 26, 2014
Petro One Funding Update
18:33 EDT Friday, September 26, 2014
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 26, 2014) - Petro One Energy Corp. (TSX VENTURE:POP)(FRANKFURT:C6K1) is pleased to report that it has confirmed payment of $500,000 in additional subscription funds pursuant to the Company's agreement with Korea Myanmar Development Company Ltd. ("KMDC"), with the result that $4,000,000 of private placement funding is currently in place pending closing. The balance of $2,000,000 is due on or before October 7, 2014 to complete the $6,000,000 private placement funding scheduled to close on that date.
The Company looks forward to closing the financing and working with KMDC to develop its oil properties and grow and prosper together through production.
ON BEHALF OF THE BOARD
Peter Bryant, President & Director
For further information, please visit the company's website at PetroOneEnergy.com and follow the Company's tweets at Twitter.com/PetroOneEnergy.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain statements contained herein constitute forward-looking statements or information (collectively "forward-looking statements") within the meaning of applicable securities legislation, including, but not limited to management's assessment of future plans and operations, including: drilling plans and potential locations; expected production levels; development plans; reserves growth; production and operating sales and expenses; reservoir characteristics; the results of applying certain operational development techniques; certain economic factors; and capital expenditures.
Forward-looking statements are typically identified by words such as "anticipate", "estimate", "expect", "forecast", "may", "will", "project" and similar words suggesting future events or performance or may be identified by reference to a future date. In addition, statements relating to oil and gas reserves and resources are deemed to be forward-looking statements as they involve the implied assessment, based on certain estimates and assumptions, that the reserves or resources described, as the case may be, exist in the quantities predicted or estimated and can be profitably produced in the future. With respect to forward looking statements herein, the Company has made assumptions regarding, among other things; future capital expenditure levels; future oil and natural gas prices; ability to obtain equipment and services in a timely manner to carry out development activities; ability to market oil and natural gas successfully to current and new customers; the ability to obtain financing on acceptable terms; and the ability to add production and reserves through development and exploitation activities. Although the Company believes that the expectations reflected in the forward-looking statements contained herein, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included herein, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous risks and uncertainties that contribute to the possibility that the forward-looking statements will not occur, which may cause the Company's actual performance and financial results in future periods to differ materially from any estimates or projections. The forward-looking statements contained herein are made as of the date hereof. The Company does not undertake any obligation to, nor does it intend to, publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained herein are expressly qualified by this cautionary statement. In addition, readers are cautioned that historical results are not necessarily indicative of future performance.
FOR FURTHER INFORMATION PLEASE CONTACT:
Contact Information:
King James Capital Corporation
Jeff Stuart
Investor Relations
(604) 805 0375
jstuart@kingjamescapital.com