Bullboard - Stock Discussion Forum Perisson Petroleum Corp V.POG.H

Energy Oil & Gas E&P

Perisson Petroleum Corporation is a Canada-based company, which is engaged in the exploration and production of oil and gas in Canada and exploration for oil and gas in the Republic of Colombia (Colombia). The Company has a 5%-10% interest in an oil-producing asset in the Wainwright Area of Alberta, Canada, which produces approximately a net of two to five barrels per day. The assets contain... see more

Add To Watchlist

TSXV:POG.H - Post Discussion

Perisson Petroleum Corp > Perisson Signs Global Farm-in Agreement with CNOG

View:

Post by Stock20 on Aug 22, 2018 2:45pm

Perisson Signs Global Farm-in Agreement with CNOG

Took position but it is hard to believe pp announced for USD $50 Million at $1.0946 per share.

Perisson Announces Memorandum of Understanding to Raise USD $50 Million Through an Equity Private Placement

Calgary, Alberta (FSCwire) - Perisson Petroleum Corporation (“Perisson” or the “Company”) (TSXV: POG) is pleased to announce that it has signed a Memorandum of Understanding (the “MOU”) with Lan Cheng Limited, a private investment fund (the “Fund”). Following the successful completion of due diligence by the Fund, which has been ongoing for several weeks, the Fund intends to purchase approximately 45,678,787 common shares of the Company at a price of USD $1.0946 per share, resulting in gross proceeds to the Company of USD $50 million (the “Financing”). Closing of the Financing is anticipated to occur over the next several weeks.

The shares issued in connection with the Financing will be subject to a four month hold period. The Financing is subject to the approval of the TSX Venture Exchange.

256