Vancouver, BC / TheNewswire / July 14, 2015 - Petrichor Energy Inc. (TSX-V: PTP / FSE: YQN) announces that on July 13, 2015 the TSX Venture Exchange accepted the Company's debt settlement. The Company received agreements from creditors totaling $244,370 of the originally announced $392,250 debt settlement (refer news release May 28, 2015).
Accordingly, on July 14, 2015 the Company issued a total of 977,480 Units at a deemed price of $0.25 per Unit to settle outstanding debt in the aggregate of $244,370. Each Unit consists of one common share and one-half share purchase warrant, each whole warrant entitling the holder to purchase one (1) additional common share at $0.35 per share, exercisable on or before July 13, 2016 at a price of $0.35 per share.
These shares, including any shares that may be issued on exercise of the warrants, are subject to a hold period under applicable Canadian securities laws expiring on November 15, 2015, and will be subject to such further restrictions on resale as may apply under applicable foreign securities laws.
On behalf of the Board of Directors
SIGNED: "Joe DeVries"
Joe DeVries, CEO and President
Contact: (604) 336-8615
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.
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