Puma Exploration Closes $1,200,000 Non-Brokered Financing

About this update from Puma Exploration Inc.

[{"type":"text","content":"Puma Exploration Closes $1,200,000 Non-Brokered FinancingRimouski, Quebec--(Newsfile Corp. - December 10, 2025) - Puma Exploration Inc. (TSXV: PUMA) (OTCQB: PUMXF) (the \"Company\" or \"Puma\") announces that it has closed a non-brokered placement (the \"FT Private Placement\") consisting of 6,000,000 flow-through units (the \"FT Units\") at $0.20 per FT Unit for gross proceeds of C$1,200,000. Each FT Unit comprises one flow-through share and one-half (1/2) common share purchase warrant (\"Warrant\"). Each Warrant is exercisable to purchase one common share of the Company at $0.25 per share, until December 9, 2027.The Warrants are subject to an acceleration clause that entitles the Company to provide notice (the \"Acceleration Notice\") to holders that they will expire 30 days from the date the Company delivers the Acceleration Notice. The Company can only provide the Acceleration Notice if the closing price of the Company's Common Shares on the TSXV is equal to or greater than $0.40 for 30 consecutive trading days. The Acceleration Notice can be provided at any time after the statutory hold period and before the expiry date of the warrants. All securities issued in connection with the Private Placement are subject to a hold period of four months and one day pursuant to applicable securities laws.The net proceeds of the FT Units will be used to incur eligible Canadian exploration expenses and flow-through mining expenditures, as defined under the Income Tax Act (Canada), that will be renounced in favour of the purchasers, with an effective date of no later than Dec. 31, 2026. The funds will advance exploration of the McKenzie Gold Project and other company assets in northern New Brunswick.In connection with the closing of the private placement offerings, the Company paid aggregate cash finders' fees of $76,650 and issued 383,250 non-transferable finder warrants (the \"Finder Warrants\"). The Finder Warrants have the same terms as the Warrants and are exercisable to purchase one common share of the Company at $0.25 per share, until December 9, 2027. Certain directors and other insiders of the Company participated in the FT Private Placement. They subscribed for 100,000 FT Units at an aggregate price of $20,000, an amount no greater than the maximum permissible under applicable securities laws and regulatory rules. Participation b...

More updates from Puma Exploration Inc.