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P2 Gold Announces Financing Update
P2 Gold Announces Financing Update Canada NewsWire /NOT FOR DISTRIBUTION TO ...
About this update from P2 Gold Inc.
[{"type":"text","content":"\n \n \n \n P2 Gold Announces Financing Update\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n March 1, 2024\n \n \n /CNW/ -\n \n P2 Gold Inc.\n \n (\"P2\" or the \"Company\") (TSXV: PGLD) (OTCQB: PGLDF) reports, subject to TSX Venture Exchange (the \"Exchange\") approval, that it has revised the terms of its previously announced (see news release of\n \n February 13, 2024\n \n ) non-brokered private placement of convertible debenture units (the \"Units\") for up to\n \n $1.7 million\n \n (the \"Offering\").\n \n \n \n \n \n \n \n \n \n The Company expects to issue up to 1,700 Units at a price of\n \n C$1,000\n \n per Unit.  Each Unit will consist of one convertible debenture (a \"Convertible Debenture\") with a principal amount of\n \n $1,000\n \n and 12,500 common share purchase warrants (the \"Warrants\").\n \n \n Under the revised terms of the Offering, at any time during the Term, a Holder may elect to convert the outstanding net principal amount, or any portion thereof, into common shares in the capital of the Company (\"Shares\") at a conversion price of\n \n C$0.07\n \n per Share (previously\n \n C$0.08\n \n per Share) up to\n \n January 31, 2025\n \n and\n \n $0.10\n \n per Share from\n \n February 1, 2025\n \n up to\n \n January 31, 2026\n \n (the \"Conversion Price\").  In the event the Company announces a business combination and the 15-day VWAP of the Shares on the Exchange is greater than\n \n $0.07\n \n , the Company will have the right to require the Holders to convert the outstanding net principal amount into Units at the Conversion Price by giving notice to the Holders by news release or other form of notice permitted by the Convertible Debentures that the Convertible Debentures will convert on the closing of the business combination.\n \n \n The Convertible Debentures will bear interest at a rate o...