Petro One reported on October 8, 2014 that it had closed a private placement of $3,260,842.75 on October 7, 2014 and that it had received confirmation from Korea Myanmar Development Company that that KMDC intended to wire the balance of the funds owing to fulfill its contractual obligations in respect of the non-brokered private placement announced [...]
Petro One is pleased to report that it has closed its non-brokered private placements announced on July 28, and August 5, 2014. On closing, on October 7, 2014, the Company issued a total of 13,043,371 units at the price of $0.25 per Unit to raise gross proceeds of $3,260,842.75. Each Unit was comprised of one common share and one share purchase [...]
Petro One 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, 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 [...]
Petro One is pleased to report that it has received bank confirmation that the $500,000 payment due on September 19, 2014 pursuant to the Company's agreement with Korea Myanmar Development Company has been received and was on deposit prior to the close of business on September 19, 2014. An additional $500,000 remains payable on September 26, 2014 [...]
Petro One Energy reported on September 8, 2014 that Korea Myanmar Development Company had committed to pay $500,000 on September 19, 2014 towards the private placement which was originally announced on July 28, 2014 and is currently scheduled to complete on October 7, 2014. The Company is now pleased to report that it has received a copy of an [...]
Petro One reported on September 2, 2014 that it had received a request from Korea Myanmar Development Company to extend to October 7, 2014 the time permitted to complete the $4,000,000 private placement announced on July 28, 2014, citing rules and regulations of the financial authorities and a need for additional time to meet the requirements of [...]
Petro One Energy announced on August 1 and 5, 2014 that it had arranged non-brokered private placements to raise a total of $6,000,000 in conjunction with the initial $14,000,000 drilling fund to be established by Korea Myanmar Development. The agreement with KMDC and the private placements have all been conditionally accepted by the TSX Venture [...]
Petro One is pleased to announce that its $4,000,000 private placement announced on July 28, 2014 has been fully subscribed and that, due to high demand, it has placed an additional $2,000,000 on the same terms, principally with institutional investors and fund managers. Based on the overwhelmingly positive response to its agreement with Korea [...]
Petro One has approved the grant of incentive options exercisable to purchase up to an aggregate of 5,000,000 shares of the Company to directors and officers of the Company, and incentive options to purchase up to an additional 1,300,000 shares to Company consultants. All of the options are exercisable at the price of $0.31 per share until July 31 [...]
Petro One announced on July 27, 2014 that it had arranged funding of up to $100,000,000 from Korea Myanmar Development to drill up to 97 oil wells on Petro One properties in Saskatchewan and Manitoba. It is now pleased to report that the first step in that funding has been taken. KMDC was originally established with the support of the Korean [...]
Petro One Energy has entered into a Program Earning and Joint Venture Agreement with Korea Myanmar Development which provides for a $4,000,000 private placement financing and a $14,000,000 funding to drill up to 11 oil wells on certain of the Company's oil and natural gas leases in Saskatchewan and Manitoba plus a Lodgepole production test of the [...]
Petro One has granted incentive stock options exercisable to purchase up to 200,000 shares of the Company to a geological consulting company controlled by Dennis Price, P. Geo., Special Advisor to the Company's Board. Dennis graduated with a BSc degree in geology from Queen Mary College, London University, in 1976. He worked as a field geologist in [...]
