Business
Pinnacle Closes Second and Final Tranche of Private Placement
(TheNewswire) VANCOUVER, BRITISH COLUMBIA, February 02, 2026 – TheNewswire - ...
About this update from Pinnacle Silver And Gold Corp
[{"type":"text","content":"Pinnacle Closes Second and Final Tranche of Private Placement\n(TheNewswire)\n\n\nVANCOUVER, BRITISH\nCOLUMBIA, February 02, 2026 – TheNewswire\n- (TSXV:\nPINN, OTC: PSGCF, Frankfurt: P9J) – Pinnacle Silver and Gold\nCorp. (\"Pinnacle\" or the\n“Company\") is pleased to announce that it has closed a second\nand final tranche of the non-brokered private placement announced on\nNovember 25, 2025 (the “Offering”).  Pursuant to the closing of\nthe second and final tranche of the Offering, the Company issued\n10,915,492 units (the “Units”) at a price of $0.14 per Unit for\ngross proceeds of $1,528,169.  With the completion of this tranche,\nthe Offering is now fully subscribed for total gross proceeds of\n$2,595,713 and consisted of a total of 18,540,663 Units with each Unit comprising one common share (“Share”) in\nthe capital of the Company and one-half share purchase warrant\n(\"Warrant\").  Each whole Warrant shall be convertible into\nan additional Share at an exercise price of $0.20 for a period of 24\nmonths from the date of issuance.  \n\n\nFinders' Fees on the second tranche of the\nOffering consisted of $29,095.92 in cash commission and 207,828\nnon-transferable finder’s warrants, for aggregate totals of\n$32,035.92 and 228,828, respectively.  Each finder's warrant\nentitles the holder to acquire one common share at $0.20 cents per\nshare over a 24-month period.  \n\n\nThe net proceeds raised from the Offering will be used to advance the\nhigh-grade El Potrero gold-silver project in Durango, Mexico, for\nproject evaluations, and for general working capital.\n\n\nInsiders of the Company participated in the second\ntranche, subscribing for a total of 335,714 units and gross proceeds\nof $46,999.96.  The participation of the insiders in the Offering\nwill constitute a related-party transaction for the purposes of\nMultilateral Instrument 61-101 (Protection of Minority Security\nHolders in Special Transactions).  The Company is exempt from the\nrequirements to obtain a formal evaluation or minority shareholder\napproval in connection with the insider participation in reliance on\nsections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market\nvalue of the securities issued, nor the fair market value of the\nconsi...