CALGARY, AB / ACCESSWIRE / March 9, 2020 / Perisson Petroleum Corporation ("Perisson" or the "Company") (TSXV:POG) is pleased to update its shareholders on current financing activities.
The Company has received subscription agreements from subscribers for the issuance of 16,666,667 Class A common shares of the Company, at a market price of $0.06 per common share, for total proceeds of $1,000,000 (the "Placement"). The Company is awaiting receipt of funds. Offering funds will be used for general corporate purposes.
The Company also announces that it has reached agreement with a service provider to convert an outstanding payable in the aggregate amount of $195,000 into 1,772,727 common shares at a deemed price of $0.11 per share.
In accordance with applicable securities laws, the shares issued in connection with the Placement and debt settlement will be subject to a four-month hold period and are subject to regulatory and TSX Venture Exchange approval.
About Perisson Petroleum Corporation
Perisson Petroleum Corporation is listed on the TSX Venture Exchange and trades under the symbol "POG." The Corporation has ownership in certain oil and gas producing properties in the Twining and Wainwright areas of Alberta, Canada. The Company also holds a 100% working interest in the VMM-17 block, a license located in the prolific, stable, oil-producing region of the Middle Magdalena Basin in central Colombia.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Wayne Rousch, President
Direct Line: (403) 827-8597
FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements relating to the timing and completion of the future operations of Perisson and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the proposed Acquisition and the future plans and objectives of Perisson, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Perisson's expectations are risks detailed from time to time in the filings made by Perisson with securities regulations.
This news release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.
Trading in the securities of Perisson Petroleum Corporation should be considered highly speculative. Neither the 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.
SOURCE: Perisson Petroleum Corporation