VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 18, 2014) - Super Nova Petroleum Corp., (CSE:SNP)(PINKSHEETS:SNOVF) (the "Company" or "Super Nova" or "SNP") announces that it has closed the second tranche of a non-brokered private placement financing pursuant to which it has issued 825,620 units @ $0.05/unit for aggregate gross proceeds of $41,281. Each unit is comprised of one common share and one three year common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at a price of $0.075/share during the first year, $0.10/during the second year and $0.125/share during the last year of the exercise period. Proceeds from this financing will be used for general working capital.
Aside from Wolf Wiese, CEO of the Company, who subscribed for 500,000 units in the amount of $25,000, no other related party of the Company participated in the private placement and no finder's fee was paid.
The Company also announces that it has settled an aggregate of $53,869.15 in debt owed to certain creditors through the issuance of an aggregate of 1,077,383 shares and an aggregate of 825,383 warrants. Each warrant entitles the holder to acquire one additional common share at a price of $0.075/share during the first year, $0.10/during the second year and $0.125/share during the last year of the exercise period.
On behalf of the Board of Directors:
SUPER NOVA PETROLEUM CORP.
Wolf Wiese, CEO
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