Super Nova Petroleum Corp. Closes Private Placement

Super Nova Petroleum (CSE:SNP) says it has closed the fourth tranche of a non-brokered private placement issuing 725,000 units for gross proceeds of $36,500. Each unit is made up of one common share and one three-year common share purchase warrant giving the holder a chance to acquire an additional common share at $0.0075 during the first year, $0.10 during the second and $0.125 during the last year.

According to the press release:

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. No finder’s fee was payable with respect to this financing.

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