Business
Pan Global Resources Announces Closing of Second Tranche of Non-Brokered Private Placement Financing
Vancouver, British Columbia--(Newsfile Corp. - July 27, 2018) - Pan Global Resources Inc . (T...
About this update from Pan Global Resources Inc.
[{"type":"text","content":"Pan Global Resources Announces Closing of Second Tranche of Non-Brokered Private Placement FinancingVancouver, British Columbia--(Newsfile Corp. - July 27, 2018) - Pan Global Resources Inc. (TSXV: PGZ ) (\"Pan Global\" or the \"Company\") today announced it has completed the second tranche its previously announced non-brokered private placement by the issuance of 2,250,000 units (the \"Units\") at a price of $0.20 per Unit for aggregate gross proceeds of $450,000.00 (the \"Offering\"). Each Unit is comprised of one (1) common share and one-half of one (1/2) common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of $0.30 for 18 months from closing of the Offering. The expiry date of the warrants may be accelerated by the Company if the common shares of the Company achieve a volume weighted average trading price greater than $0.35 for twenty (20) consecutive trading days. The Units, common shares, share purchase warrants, finders' warrants and shares issued upon exercise of the share purchase warrants and / or the finders' warrants are subject to a four month hold period, expiring November 27, 2018.Together with the first tranche, the Company has issued 10,038,000 Units for aggregate gross proceeds of $2,007,600.00.Finders' fees in the aggregate of $96,756.00 and 241,890 finders' warrants were paid on a portion of the Offering. Each finder's warrant entitles the holder to purchase one additional common share at a price of $0.30 for 18 months from closing of the Offering.The net proceeds of the offering will be used to further the Company's exploration program on the Company's Aguilas Copper and Lead-Zinc-Silver Project in Spain, and for working capital.About Pan Global ResourcesPan Global Resources Inc. is actively engaged in base and precious metal exploration in Spain, and is pursuing opportunities from exploration through to mine development.  The company has committed to operating safely and with respect to the communities and environment where we operate.On behalf of the Board of Directorswww.panglobalresources.com.FOR FURTHER INFORMATION PLEASE CONTACT:SHERMAN DAHLPresident, Pretium GroupTel: (250) 558-8340Statements which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or int...