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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 16, 2011) - Petro One Energy Corp. (TSX VENTURE:POP)(PINKSHEETS:CUDBF)(FRANKFURT:C6K1) is pleased to announce that the non-brokered private placement announced on December 12, 2011 has been increased to 4,440,005 units (each a "Unit") at the price of $0.60 per Unit to raise gross proceeds of $2,664,003. Each Unit will be comprised of one common share and one-half of a share purchase warrant. Each full warrant will entitle the holder to purchase one additional common share at the price of $0.80 for a period of two years after Closing, subject to acceleration at the Company's option if its shares close at $1.20 or higher for twenty (20) consecutive trading days at any time after four months after Closing. |
