Premium Exploration, Inc. (TSXV:PEM) announced a non-brokered private placement of 22,000,000 units at CAD 0.05 per unit for gross proceeds of CAD 1,100,000 on October 23, 2013. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at CAD 0.15 per share for a period of three years from the date of issuance. The securities issued are subject to a hold period of four months from the date of issuance. The transaction is subject to approval from the TSX Venture Exchange. The company will pay cash finder's fees of 9% of the proceeds placed and 9% finder's warrants, at an exercise price of CAD 0.15 for a period of three years.

On November 15, 2013, the company announced that the TSX Venture Exchange has accepted for filing documentation with respect to the transaction. As part of the transaction, Del Steiner, Director will subscribe for 1,000,000 units, John Ryan, Chief Executive Officer will subscribe for 1,000,000 units, James Baughman will subscribe for 1,000,000 units, and two professional groups will subscribe for 240,000 units. The company will pay finder's fees of CAD 28,890 and issue 579,600 warrants to Jackson Bennett LLC, and CAD 40,410 in cash and 808,200 warrants to Blue Creek Capital Corp.

On November 22, 2013, Premium Exploration, Inc. closed the transaction.