PetroShale Inc. (TSXV:PSH) is seeking acquisitions. PetroShale has entered into an agreement with First Reserve in respect of a strategic financing transaction for gross proceeds of $75 million. Pursuant to the terms of the Investment Agreement, the Investor has agreed to acquire $75 million of series A preferred shares in the company's wholly owned subsidiary, PetroShale (US), Inc. PetroShale intends to use the net proceeds of the Financing to fund: (i) capital expenditures; (ii) the non-permanent repayment of its outstanding senior loan balance; (iii) the repayment and retirement of its outstanding subordinated loan; (iv) future potential acquisition opportunities; and (v) general corporate purposes.