Sentinel Rock Oil Corporation: Private Placement Closed
04 April 2009 - 2:11AM
Marketwired Canada
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES
Sentinel Rock Oil Corporation (TSX VENTURE:SEN) ("Sentinel" or the
"Corporation") is pleased to announce that it has closed the second and final
tranche of its previously announced non-brokered private placement (the
"Sentinel Private Placement"). Sentinel sold 3,260,000 Common Shares for gross
proceeds of Cdn $163,000 in this second tranche. Overall, Sentinel sold a total
of 11,960,000 common shares for gross proceeds of $598,000 and paid no
commissions. The Corporation now has 40,453,855 common shares issued and
outstanding.
The net proceeds of the Sentinel Private Placement will be used by Sentinel to
pay outstanding payables and for general working capital purposes. The principal
reason for the Corporation to complete the Sentinel Private Placement was the
Corporation's working capital deficiency.
About Sentinel
Sentinel is a Calgary, Alberta based oil exploration company focusing on heavy
oil with operations in northern Alberta and western Saskatchewan.
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