VANCOUVER, Nov 27, 2013 - Petro One Energy Corp. (the "Company") (TSX VENTURE:POP) (PINKSHEETS:CUDBF) (FRANKFURT:C6K1) is applying to the TSX Venture Exchange for consent to extend the exercise term of certain outstanding share purchase warrants by two years.
On December 22, 2011, the Company distributed 4,440,005 units at the price of $0.60 per unit by way of non-brokered private placement. Each unit was comprised of one common share and one-half of a common share purchase warrant. The Company issued an additional 256,381 finders' warrants in connection with the private placement. Each warrant is currently exercisable to purchase one common share for $0.80 at any time prior to 4:30 p.m. on December 22, 2013. The Company now intends to apply to the Exchange for permission to extend the exercise term of the warrants and finders' warrants to December 22, 2015. The Company will not be seeking a reduction of the exercise price of any warrants. The proposed amendment to the warrant terms is subject to acceptance by the TSX Venture Exchange.
ON BEHALF OF THE BOARD
Peter Bryant President & Director
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.
Contact
For further information, please visit the company's website at PetroOneEnergy.com or follow the Company's tweets at Twitter.com/PetroOneEnergy.
King James Capital Corporation Jeff Stuart, Investor Relations (604) 210 2150 jstuart@kingjamescapital.com
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VANCOUVER, Nov 27, 2013 - Petro One Energy Corp. (the "Company") (TSX VENTURE:POP) (PINKSHEETS:CUDBF) (FRANKFURT:C6K1) is applying to the TSX Venture Exchange for consent to extend the exercise term of certain outstanding share purchase warrants by two years.
