Puma Exploration Closes Kinross $2M Private Placement

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[{"type":"text","content":"Puma Exploration Closes Kinross $2M Private PlacementRimouski, Quebec--(Newsfile Corp. - December 24, 2025) - Puma Exploration Inc. (TSXV: PUMA) (OTCQB: PUMXF) (\"Puma\" or the \"Company\") reports that it has closed its private placement with Kinross Gold Corporation (\"Kinross\") as announced yesterday (see December 23, 2025 News Release). Kinross exercised its right, granted under the investor rights agreement (\"IRA\") dated October 23, 2024, to increase its ownership stake in Puma's share capital from 9.1% to 14.8% (on an undiluted basis) and 17.4% (on a partially diluted basis). Kinross subscribed to 12,500,000 units of Puma (the \"Units\") at a price of $0.16 per Unit for proceeds of $2,000,000 (the \"Offering\"). Each Unit is comprised of one (1) common share and one-half (½) common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant is exercisable to purchase one (1) common share of the Company at $0.25 per share until December 24, 2027. The Warrants are subject to an acceleration clause that allows the Company to provide notice to holders that the Warrants will expire 30 days after the date the acceleration notice is delivered. The Company may provide the acceleration notice only if the closing price of the Company's common shares on the TSX Venture Exchange is equal to or greater than $0.40 for 30 consecutive trading days. The acceleration notice may 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 Offering will be subject to a hold period of four months and one day under applicable securities laws.No finder's fees were paid in connection with the Offering. The funds raised will support exploration activities on Puma's projects (not optioned to Kinross) and general corporate and working capital requirements.Kinross now holds 29,550,577 common shares and 6,250,000 Warrants of Puma. Under the IRA, Kinross retains the right to participate in future equity financings to maintain its ownership percentage, or to increase its holding up to 19.9% of the Company's total issued and outstanding common shares following the issuance of additional securities.Early WarningAn early warning report filed by Kinross in connection with the investment is available on Puma's SEDAR+ profile at www.sedarplus.ca. Alternati...

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