Business
PERSHING RESOURCES ENTERS INTO A FUNDING AGREEMENT WITH BLACKBRIDGE CAPITAL
PERSHING RESOURCES ENTERS INTO A FUNDING AGREEMENT WITH BLACKBRIDGE CAPITAL.
About this update from Pershing Resources Company, Inc.
[{"type":"text","content":"Pershing Resources Enters into a funding agreement With Blackbridge capital\n \nBlackbridge Capital Has Agreed to Invest Up to One Million Dollars In The Company, Pending SEC Qualification of a Regulation A Filing. \nApril 27, 2016 \n \nRENO, NV-- 04/27/16 -- Pershing Resources Company, Inc. (the “Company”) (OTC PINK: PSGR) announced today that it has entered into a securities purchase agreement with Blackbridge Capital, LLC (“Blackbridge”). Pursuant to the terms of the agreement, Blackbridge has agreed to invest up to $1,000,000 in exchange for up to 9.9% of the Company’s outstanding common stock. The stock sale is subject to the Company filing of a Form 1-A Regulation A Offering Statement with the Securities and Exchange Commission (“SEC”), the qualification thereof by the SEC and the satisfaction of customary conditions of issuance and sale including the final pricing of the stock. The purchase price will be based on the lowest trading price of the Company’s common stock as reported on the OTC Bulletin Board, or other applicable market, during the ten (10) trading days immediately preceding the date the Company’s Form 1-A Offering Statement is qualified by the SEC. \nThe Company intends to use the proceeds of the funding to accelerate work on its projects in Kingman, Arizona and Lovelock, Nevada, and, to expand its development facility near Kingman. A significant portion of the funds will be used for construction and equipment to develop a small production mill on the Kingman development site with a proposed processing capacity of up to 20 tons per day. \nSteve Plumb, CEO of Pershing Resources, stated, \"We are very pleased that Blackbridge has recognized our development work and has become one of our funding partners. Once completed, we believe this transaction will help us move forward on all aspects of our overall business development plan. Blackbridge has shown confidence in the Company's capabilities and our vision by their proposed investment and we are looking forward to working closely with them as we progress through the SEC review process.\nAlexander Dillon, CIO of Blackbridge Capital added,“We looked at Pershing Resources and saw an interesting opportunity in the micro-cap/small-cap space for mining. Further investigation revealed a fit for our investment criteria and o...