May 7, 2010 (TheNewswire.ca) --
May 7, 2010 - CALGARY, ALBERTA - Pennine Petroleum Corporation (TSXV:PNN) (PNN on TSX.V)(the "Company") announces that a total of 3,789,000 shares have been issued as part of the conversion of $189,450 (96%) of the $197,300 debenture previously announced on May 11th, 2009. These shares were convertible at a price of $0.05. The Company now has 35,266,769 common shares outstanding.
About Pennine Petroleum Corporation
Pennine Petroleum Corporation is an emerging oil and gas exploration and development company active in Alberta, Saskatchewan, and British Columbia. The Company's strategy is based on increasing cash flow by focusing on drilling and well re-completions on selective land areas where it currently operates.
For further information, contact:
Pennine Petroleum Corporation
N. Desmond Smith
T: 403 277-4421
F: 403 277-4439
E: des.smith@penninecorp.com
Boardmarker Group
Dean Stuart
T: 403 517 2270
E: dean@boardmarker.net
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Copyright (c) 2010 Thenewswire.ca - All rights reserved.