New Issue: Petrolia concludes C$7.13 million private placement of stock, units

By Devika Patel

Knoxville, Tenn., Dec. 7 - Petrolia Inc. said it raised C$7.13 million in a non-brokered private placement of stock and units. The deal priced for C$5 million on Nov. 23.

The company sold 3,634,245 flow-through shares at C$0.95 each. It also sold 4,326,323 units of one common share and a half-share warrant at C$0.85 per unit.

The whole warrants are exercisable at C$1.30 until Dec. 4, 2011.

Petrolia is an oil and gas company based in Rimouski, Quebec.

Issuer:	Petrolia Inc.
Issue:	Flow-through shares, units of one common share and a half-share warrant
Amount:	C$7,129,908
Agent:	Non-brokered
Pricing date:	Nov. 23
Settlement date:	Dec. 7
Stock symbol:	TSX Venture: PEA
Stock price:	C$0.85 at close Nov. 23
Market capitalization:	C$35.6 million
Shares
Amount:	C$3,452,533
Shares:	3,634,245
Price:	C$0.95
Warrants:	No
Units
Amount:	C$3,677,375
Units:	4,326,323
Price:	C$0.85
Warrants:	One half-share warrant per unit
Warrant expiration:	Dec. 4, 2011
Warrant strike price:	C$1.30

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