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P2 Gold Announces Upsizing and Closing of First Tranche of Financing, Debt Settlement and Option Grant
P2 Gold Announces Upsizing and Closing of First Tranche of Financing, Debt Settlement and Option ...
About this update from P2 Gold Inc.
[{"type":"text","content":"\n\n\n\n P2 Gold Announces Upsizing and Closing of First Tranche of Financing, Debt Settlement and Option Grant\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 Sept. 4, 2024\n \n\n /CNW/ -\n \n P2 Gold Inc.\n \n (\"P2\" or the \"Company\") (TSXV: PGLD) reports that it (a) intends to increase the size of its non-brokered private placement, previously announced on\n \n August 26, 2024\n \n , to 18 million units (from 10 million units) in the capital of the Company (the \"Units\") at a price of\n \n $0.05\n \n per Unit for gross proceeds of up to\n \n $900,000\n \n (the \"Offering\") and (b) has closed the first tranche (the \"First Tranche\") of the Offering consisting of 5,000,000 Units for gross proceeds of\n \n $250,000\n \n .\n \n\n\n\n\n\n\n\n\n The Company also reports that it has agreed with certain insiders of P2 to settle\n \n $840,000\n \n in shareholder loans previously provided for working capital for 8,400,000 shares of the Company (the \"Loan Shares\") at a deemed price of\n \n $0.10\n \n /share (the \"Loan Settlement\").\n \n\n\n The Offering\n \n\n\n Each Unit will consist of one common share in the capital of the Company (an \"Offering Share\") 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\n \n $0.10\n \n 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\n \n $0.20\n \n 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...