Strategic Oil & Gas Ltd. (TSXV:SOG) announced a best effort private placement of 41,666,666 common shares at a price of CAD 0.12 per share for gross proceeds CAD 5,000,000 on January 11, 2017. The company has granted underwriter an over-allotment option, to issue 15% of the number of shares issuable in the transaction, exercisable in whole or in part at any time up to 48 hours prior to the closing of the transaction. The transaction is and is subject to receipt of all necessary regulatory approvals including approval of the TSX Venture Exchange. The securities issued under the transaction will be subject to a four month hold period. The transaction is expected to close on or before January 31, 2017.