/EINPresswire.com/ -- VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 10, 2017) - Panorama Petroleum Inc. (the "Company") (TSX VENTURE:PPA) is pleased to announce that TSX.V has granted an approval for a first tranche closing for the Company's non-brokered private placement of 3,500,000 shares at $0.02 per share for net proceeds of $70,000. The first tranche closed on January 6, 2017.

All shares issued under this private placement will have a hold period of four months and one day ending May 7, 2017. No fees or commissions will be paid in relation to this private placement.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility or the adequacy or accuracy of this release. Certain information provided in this news release contains forward-looking statements that by their nature are subject to numerous risks and uncertainties and readers are cautioned that actual results may vary considerably from those forecasted.