Business
$2,100,000 Flow-Through Financing
$2,100,000 Flow-Through Financing.
About this update from Puma Exploration Inc.
[{"type":"text","content":"\n\n\n\n\nRIMOUSKI, Dec. 16 /CNW Telbec/ - Puma Exploration (PUM : TSX-V) has\nobtained conditional approval from the TSX Venture Exchange to proceed with a\nprivate placement to a maximum of $2,100,000.\nThe offer consists of the issuance of a maximum of 1,875 \"A\" units\n($1,875,000) and 225 \"B\" units ($225,000). The average cost of the shares of\nthe \"A\" units is $0.19 and have 1,250 share purchase warrants attached. Each\n\"B\" unit comprises 6,250 ordinary shares at a price of $0.16 per share and\ncarries 6,250 share purchase warrants. Each warrant in the \"A\" and \"B\" units\nallow the holder to subscribe to shares at a price of $0.25 per share until\nJune 30, 2006, and thereafter, at a price of $0.30 until September 30, 2007.\nThe placement will close before December 30, 2005 for the \"A\" units and\nSeptember 30, 2006 for the \"B\" units.\nThe proceeds from this placement will be used to explore the Little Stull\nLake high grade gold property in northern Manitoba, near the Manitoba-Ontario\nborder, where 208 drill holes have already been drilled with promising\nresults. The winter exploration program is budgeted at $1,500,000, to be spent\nmainly on drilling, resource definition and geological interpretation.\nAdditional information on this placement is available from the Company,\nor from FranEcois Carrier of Canaccord Capital. The offering notice and other\nfinancial information is available at http://www.explorationpuma.com .\n\n The TSX Venture Exchange does not accept any responsibility for the\n content of this press release as being truthful or accurate.\n\n\n","length":1640,"tagName":"div"}]