Pennine Petroleum (TSE:PNN) has released an update.
Pambili Natural Resources Corporation successfully completed a non-brokered private placement, raising C$105,000 through the sale of 2.1 million units at C$0.05 each, which includes shares and warrants. The company also paid Finder’s Fees in shares and warrants, and the proceeds will be allocated for general working capital. The transaction is subject to regulatory approvals and features a four-month hold period, with provisions for warrant expiry acceleration under certain trading conditions.
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