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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: ayeyou who wrote (8468)	8/11/2014 10:23:22 AM
From: Goose94	Read Replies (1) \| Respond to of 203844

Follow the inklings back to the story, Dino's Bar & Grill cover page explains the whole idea of the thread.

To: ayeyou who wrote (8468)	8/11/2014 10:27:45 AM
From: Goose94	Read Replies (3) \| Respond to of 203844

POP-V news release Aug 8, '14 On July 27, 2014, Petro One Energy Corp. announced that it had arranged financing of up to $100-million from Korea Myanmar Development Corp. to drill up to 97 oil wells on Petro One properties in Saskatchewan and Manitoba. It is now pleased to report that the first step in that financing has been taken. KMDC was originally established with the support of the Korean government to secure and develop petroleum leases in Myanmar (formerly Burma) as part of a program to develop enhanced economic relations between Korea and Myanmar across a number of sectors. Under the guidance of chairman Lee Young-Soo, KMDC recently determined to seek opportunities in the Canadian oil patch. It was introduced to Petro One and ultimately identified Petro One as its preferred candidate. The earning and joint venture agreement was negotiated only after extensive due diligence by legal and technical advisers to KMDC, including data due diligence and property site inspections, all which were overseen by Petro One's chief consulting geologist, Trevor Bremner. Approximately 70 representatives of the Korean government, Korean business community and Korean press, including Korean television, attended the formal signing ceremony in Seoul, at which Petro One was represented by its chief executive officer and chief operating officer. It was made very clear in the speeches given by government officials and Mr. Young-Soo that they consider $100-million in financing to be the first step in a longer-term, more comprehensive arrangement with Petro One. "We are delighted to be embarking on this joint venture with a multinational company of KMDC's calibre," said Petro One president Peter Bryant. "The KMDC financing will fund an aggressive multiwell program designed to provide for exponential growth through production on eight of Petro One's properties. Saskatchewan and Manitoba are ranked as two of the best geopolitically stable places in the world to drill for shallow, light oil, and Petro One's land is ideally located for low-risk development drilling in or adjacent to infrastructure and existing oil fields. We look forward to rapid growth and a long and prosperous partnership with KMDC." The pricing for the initial $4-million private placement announced on July 28, 2014, was agreed to be set at the lowest discounted market price of Petro One shares occurring during the 20-day period following the second trading day after the July 28, 2014, news release, subject to a minimum price of 25 cents. Accordingly, based on the closing price of the company's shares on July 31, 2014, the financing has been priced at 25 cents per unit. Each unit is composed of one common share and one warrant, and each warrant will be exercisable at 37.5 cents for two years after closing, subject to accelerated exercise if the company's shares trade over $2.00 for a period of 10 consecutive trading days after four months from the closing date. As a result, KMDC is obligated under the agreement to advance $14-million for the drilling fund to bring the total initial phase 1 investment to $18-million and has the right to increase that by an additional $82-million in phase 2. The private placement and use of proceeds are described in more detail in the company's July 28, 2014, news release. All shares issued pursuant to the offering and any shares issued pursuant to the exercise of warrants will be subject to a four-month hold period from the closing date. Closing remains scheduled for Sept. 2, 2014, and the agreement with KMDC and the private placement remain subject to acceptance by the TSX Venture Exchange. Aberdeen Gould Capital Markets Ltd. is acting as the company's exempt market dealer in respect of the private placement, as described in the July 28, 2014, news release.