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    Premium Closes $500,000 Non-Brokered Private Placement With Osisko Mining Corporation


    by brucewallace13

    VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/31/12 -- Premium Exploration Inc. (TSX VENTURE: PEM)(OTCQX: PMMEF) ("Premium" or the "Company") is pleased to announce that effective August 30, 2012 it has closed a non-brokered private placement (the "Private Placement") with Osisko Mining Corporation (TSX: OSK) for 7,142,857 units (each a "Unit") of the Company to raise gross proceeds of $500,000 at a price of $0.07 per share.
    Each Unit is comprised of one common share (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire an additional Share of the Company at a price of $0.20 per Share for a period of 3 years from the date of issuance.