Permex Petroleum Corporation (CNSX:OIL) announced a non-brokered private placement of a minimum of 2,500,000 units up to a maximum of 7,500,000 units at a price of CAD 0.20 per unit for minimum gross proceeds of CAD 500,000 up to a maximum gross proceeds of CAD 1,500,000 on January 9, 2019. Each unit will consist of one common share one common share purchase warrant. Each warrant entitling the holder thereof to purchase one common share of the company at an exercise price of CAD 0.30 per share for a period of 24 months from the closing of the transaction. The transaction will include participation from existing shareholders. The securities are subject to a four-month plus one day hold period. The company may pay finder's fees of 8% in the transaction.