Pennant Energy Announces Private Placement Financings of up to $3.25 Million

Pennant Energy (TSXV:PEN) has entered into an agreement with Canaccord Genuity Corp. to sell up to 10,000,000 flow-through shares of the Company.

As quoted in the press release:

Pennant Energy (TSXV:PEN) has entered into an agreement with Canaccord Genuity Corp. to sell up to 10,000,000 flow-through shares of the Company at a price of $0.20 per FT Share and up to 5,000,000 units of the Company (the “Units”) at a price of $0.20 per Unit for total gross proceeds $3,000,000.

Closing of the financings is anticipated to occur on or before November 23, 2011 and is subject to receipt of applicable regulatory approvals including approval of the TSX Venture Exchange.

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