PetroWorth Closes Tranche 1 of Private Placement Financing

PetroWorth Resources Inc. (CNSX:PTW) (FRANKFURT:T3F) announced that it has closed the first tranche of a non-brokered private placement financing.

The press release is quoted as saying:

Under the first tranche, PetroWorth has issued 6,180,000 units consisting of 5,000,000 “flow-through” common shares (“FT Shares”) at a price of $0.20 per FT Share and 1,180,000 common shares at a price of $0.18 per share for gross proceeds of $1,212,400. Each unit also consists of one warrant, which can be exercised to acquire one common share at $0.30 per share for a period of 24 months from the closing date of the financing.

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