Palliser Oil & Gas Corporation (TSX VENTURE:PXL) reported that the company has entered into a financing agreement with a group of agents led by Jennings Capital Inc. for gross proceeds of up to $10 million through the sale of Special Warrants.
The press release is quoted as saying:
Palliser intends to use the net proceeds from the offering to fund its 2010 heavy oil drilling and reactivation program, future property acquisitions and for general corporate purposes. Palliser is a Calgary-based emerging junior oil and gas company currently focused on high netback conventional heavy oil production in the greater Lloydminster area of both Alberta and Saskatchewan.
