Business
Pancon Announces Intention to Extend Warrants
Toronto, Ontario--(Newsfile Corp. - September 8, 2022) - Pancontinental Resources Corporation ...
About this update from Carolina Rush Corporation
[{"type":"text","content":"Pancon Announces Intention to Extend WarrantsToronto, Ontario--(Newsfile Corp. - September 8, 2022) - Pancontinental Resources Corporation (TSXV: PUC) (OTCQB: PUCCF) (\"Pancon\" or the \"Company\") announces that, subject to the required approval from the TSX Venture Exchange, the Company intends to extend the expiry date of an aggregate of 22,075,500 common share purchase warrants (each, a \"Warrant\"). 12,750,000 Warrants were originally issued pursuant to a private placement offering of 25,000,000 units in the capital of the Company at a price of $0.12 per unit which closed on September 11, 2022. Each unit was comprised of one common share in the capital of the Company (a \"Common Share\") and one-half of one Warrant. Each Warrant entitles the holder thereof to purchase one Common Share at a price of $0.18 until September 11, 2022, subject to acceleration in certain circumstances.12,868,000 Warrants, of which 3,542,500 Warrants have been exercised, were originally issued pursuant to a private placement of 12,868,000 units in the capital of the Company at a price of $0.05 per unit, which closed on September 17, 2019. Each unit was comprised of one Common Share and one Warrant. Each Warrant entitled the holder to purchase one Common Share at an exercise price of $0.07 until September 16, 2022. The Company will enter into supplemental warrant indentures amending the expiry date of the Warrants from September 11, 2022 and September 16, 2022 to June 25, 2023. All other terms and conditions of the Warrants remain unchanged. About PanconPancontinental Resources Corp. (TSXV: PUC) (OTCQB: PUCCF), or Pancon, is a Canadian junior mining company exploring the rich, underexplored Carolina Slate Belt in the southeastern USA. In January 2020, Pancon won the exclusive right to explore and purchase the former Brewer Gold Mine property, with an option period through October 2023. Between 1987-1995, Brewer produced 178,000 ounces of oxide gold from open pits that extended to 65-meter depths, where gold (Au) and copper (Cu) sulphides were exposed but could not be processed by the oxide heap leach operation. Pancon's 100%-owned, 1,960-acre Jefferson Gold Project nearly completely surrounds the 1,000-acre Brewer property. The Brewer-Jefferson area of interest, in Chesterfield County, South Carolina, is 12 kilometers along trend from the producing ...