PGB Petroglobe

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A
VIOLATION OF UNITED STATES SECURITIES LAWS.


PetroGlobe Inc. ("PetroGlobe") (TSX VENTURE:PGB) announced today that it plans
to raise up to an aggregate of $3,000,000 through the issue of units comprised
of common shares and warrants and a separate issue of flow-through common
shares. 


The units will each be comprised of one common share and one-half of a common
share purchase warrant and issued at a price of $0.14 to raise up to $1,000,000.
Each whole warrant will be exercisable to acquire one common share at a price of
$0.17 until May 31, 2011.


The flow-through common shares will each be issued at a price of $0.17 to raise
up to $2,000,000. PetroGlobe intends to use the gross proceeds from the issue of
flow-through common shares to incur Canadian Exploration Expense or Canadian
Development Expense that may be renounced as Canadian Exploration Expense under
the Income Tax Act (Canada) by December 31, 2010.


The offering will be on a private placement basis to accredited investors and
other eligible purchasers in Alberta, British Columbia and Ontario and the
securities issued will be subject to resale restrictions for four months after
the closing. Closing of the offering is anticipated to occur on or about October
7, 2010.


Emerging Equities Inc. will act as placing agent and may form a selling group
and invite co-agents comprised of members of the Investment Industry Regulatory
Organization of Canada to participate in the offering. The agents will receive a
cash commission plus, if specified minimum proceeds are raised, options to
acquire that number of units equal to 5% of the number of units and flow-through
common shares issued. Each option will be exercisable to acquire one unit at a
price of $0.14 until twelve months after closing.


PetroGlobe announces it has granted 700,000 common share purchase options with
exercise price of $0.16 per common share purchase option to directors of the
Company in accordance with its stock option plan.


About PetroGlobe Inc.

PetroGlobe is a Calgary, Alberta based public company, engaged in the
exploration, development and production of petroleum and natural gas in Canada.
PetroGlobe's focus is on high working interest, company-operated properties in
Alberta, including Pembina Cardium light oil, Pembina Edmonton Sands natural gas
and Sawtooth oil in the Grand Forks/Taber area of southern Alberta. PetroGlobe's
common shares are listed on the TSX Venture Exchange and trade under the symbol
PGB.


Forward-Looking and Cautionary Statements

Certain information included in this news release constitutes forward-looking
information under applicable securities legislation. Such forward-looking
information is provided for the purpose of providing information about
management's current expectations and plans relating to the future. Readers are
cautioned that reliance on such information may not be appropriate for other
purposes, such as making investment decisions. Forward-looking information
typically contains statements with words such as "anticipate", "believe",
"expect", "plan", "intend", "estimate", "propose", "project" or similar words
suggesting future outcomes or statements regarding an outlook. Forward-looking
information is based on a number of factors and assumptions which have been used
to develop such information but which may prove to be incorrect. Although
PetroGlobe believes that the expectations reflected in such forward-looking
information are reasonable, undue reliance should not be placed on
forward-looking information because PetroGlobe can give no assurance that such
expectations will prove to be correct. Forward-looking information is based on
current expectations, estimates and projections that involve a number of risks
and uncertainties which could cause actual results to differ materially from
those anticipated by PetroGlobe and described in the forward-looking
information. The material risk factors affecting PetroGlobe and its business are
similar to those of other companies engaged in the business of exploring for and
producing oil and gas.


The forward-looking information contained in this news release is made as of the
date hereof and PetroGlobe undertakes no obligation to update publicly or revise
any forward-looking information, whether as a result of new information, future
events or otherwise, unless required by applicable securities laws. The
forward-looking information contained in this news release is expressly
qualified by this cautionary statement.

Grafico Azioni Petroglobe (TSXV:PGB)
Storico
Da Mag 2024 a Giu 2024

Grafico Azioni Petroglobe (TSXV:PGB)
Storico
Da Giu 2023 a Giu 2024