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P2 Gold Announces Terms of Financing for the Gabbs Project, Nevada
VANCOUVER, British Columbia, April 06, 2021 (GLOBE NEWSWIRE) -- P2 Gold Inc. (“P2” or the “Company”) (TSX-V:PGLD) is pleased to announce that it intends to comp
About this update from P2 Gold Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, April 06, 2021 (GLOBE NEWSWIRE) -- P2 Gold Inc. (“P2” or the “Company”) (TSX-V:PGLD) is pleased to announce that it intends to complete a non-brokered private placement of units (the “Private Placement”) for the acquisition and exploration of the Gabbs Project located on the Walker-Lane Trend in the Fairplay Mining District of Nye County, Nevada. The Private Placement will consist of up to 32,000,000 units (the “Units”) at a price of $0.50 per Unit for gross proceeds of up to $16 million. Each Unit will consist of one common share in the capital of the Company and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one additional common share in the capital of the Company at an exercise price of $0.85 per common share for a period of two years from the date of issue (the “Expiry Time”), provided that, if after four months from the date of issue, the closing price of the common shares of the Company on the TSX Venture Exchange (the “Exchange”) is equal to or greater than $1.50 for a period of 10 consecutive trading days at any time prior to the Expiry Time, the Company will have the right to accelerate the Expiry Time of the Warrants by giving notice to the holders of the Warrants by news release or other form of notice permitted by the certificate representing the Warrants that the Warrants will expire at 4:30 p.m. (Vancouver time) on a date that is not less than 15 days from the date notice is given. The Private Placement will close on completion of documentation and is conditional upon receipt of all necessary regulatory approvals, including the approval of the Exchange. The proceeds of the Private Placement will be used to fund the acquisition of the Gabbs Project, the Phase 1 Gabbs exploration program and general corporate purposes. The Private Placement will be offered to accredited investors in all Provinces of Canada pursuant to applicable securities laws. In connection with the Private Placement, the Company may pay finders’ fees as permitted by the policies of the Exchange. All securities issued pursuant to the Private Placement will be subject to a four-month hold period. The securities to be offered in the Private Placement have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) ...