Vancouver, British Columbia – June 4, 2008 – Mr. Chris Parent, President of Petrol One Corp. (CNQ Exchange: PONE) (the “Company”) is pleased to announce a private placement of 468,750 units (the “Units”) at a price of $0.64 per Unit to raise gross proceeds of $300,000.
Each Unit consists of one common share of the Company and one common share purchase warrant entitling the holder to acquire one additional common share for a period of two years commencing on the date of issue at the exercise price of $0.80.
The proceeds of the financing will be used for exploration of the Company’s oil and gas concessions in Gabon, Africa and for general working capital.
The private placement is subject to filing satisfactory to the CNQ Exchange. For a more complete business and financial profile of the Company, management encourages interested parties to view the Company’s documents posted on www.sedar.com.
For more information please contact:
Chris Parent
President
Petrol One Corp.
Phone: (604) 676-4285
Fax: (604) 681-8240
Email: globalsa@shaw.ca
www.petrolone.com
[Not for distribution in the United States or through United States wire services.]
The CNQ has neither approved
nor disapproved the information contained herein.
