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CALGARY, ALBERTA--(Marketwired - Feb. 17, 2017) - Petrus Resources Ltd. ("Petrus" or the "Company") (TSX:PRQ) - Petrus is pleased to announce that it has increased the size of its previously announced non-brokered private placement to up to 4,350,000 common shares of the Company ("Common Shares") at a purchase price of $2.53 per Common Share, for aggregate gross proceeds of up to $11,005,500 (the "Private Placement"). Closing of the Private Placement is expected to occur on or about February 28, 2017, and is subject to receipt of all requisite approvals, including the approval of the Toronto Stock Exchange. A portion of the net proceeds of the Private Placement will be used to fund Petrus' previously announced acquisition of certain oil and natural gas interests in the Ferrier area, with the remainder to be used toward funding of the Company's 2017 capital program. |
