Petrolymic closes $175,500 private placement

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By CPE News

Toronto (pcJ News Briefs) – Petrolymic Ltd. (TSX-V: PCQ; OTCQB: PCQRF) has closed a non-brokered private placement of 1,300,000 units at a price of $0.135 per unit for gross proceeds of $175,500.

Each unit consists of one common share and one common share purchase warrant entitling the holder to purchase one common share at $0.25 per share for a period of 36 months from closing, subject to accelerated expiry.

Petrolympic Ltd. is a junior oil and gas company actively exploring for premium light crude oil and natural gas in North America. The company is presently focused on its near-term conventional oil and natural gas production assets in the Gaspe Peninsula in Quebec. It also holds natural gas assets in the Utica Fairway of Quebec and an 8,000+ acre asset in the oil-prolific Maverick Basin of Texas.

photo credit: Petrolympic