Business
Pershing Resources Raises Funds
Pershing Resources Raises Funds.
About this update from Pershing Resources Company, Inc.
[{"type":"text","content":"The Company Raises $200,000 Through the Issuance of a Convertible NoteRENO, NV / ACCESSWIRE / November 13, 2020 / Pershing Resources Company, Inc., (OTC PINK:PSGR), a precious and base metals exploration and mining company, today announced that as of October 30, 2020, the Company has received a total of $200,000, before deducting the costs and expenses, from a current security-holder through the issuance of a convertible note (the "Note"). The Note has a term of 180 days with interest thereon accruing at the rate of 3% per annum. The Note is convertible at a conversion price of $0.02 per share of common stock and, if converted, would result in the issuance of 10 million restricted shares of the Company's common stock.The Company intends to use the proceeds it received from this private placement for the payment of accrued expenses, acquisition of additional mineral exploration leases and for general working capital purposes.About Pershing ResourcesPershing Resources is a precious and base metals exploration and development company with several projects in North America. The Company is based in Reno, Nevada and is currently focused on the development of its 100% owned New Enterprise Project. The New Enterprise Project is located near Kingman, Arizona and lies between the Mineral Park Porphyry Cu-Mo mine (approximately 20 miles to the northwest) and the Baghdad Cu-Mo mine (approximately 45 miles to the southeast). The Company's other assets are comprised of exploration properties located in Arizona and Nevada. Pershing Resources is committed to responsible mining practices.Forward-Looking StatementsThe information contained in this press release as well as the information on the Company's website is provided solely for the reader's general knowledge. Such information is not intended to be a comprehensive review of all matters pertaining to the Company. Certain statements included herein and on the Company's website, constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current knowledge, assumptions, judgment and expectations regarding future performance or events. Although management believes that the expectations reflected in such statements are reasonable, these ...