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Puma Exploration raises $3,035,645 in its Private Placements
RIMOUSKI, Quebec, May 30, 2023 (GLOBE NEWSWIRE) -- Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the “Company” or “Puma”) announces that it has closed the s
About this update from Puma Exploration Inc.
[{"type":"text","content":" RIMOUSKI, Quebec, May 30, 2023 (GLOBE NEWSWIRE) -- Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the “Company” or “Puma”) announces that it has closed the second tranche of the non-brokered flow-through private placement (“the FT Offering”) announced on May 11, 2023, for additional gross proceeds of $1,241,410. The Company also closed an additional non-brokered private placement of units (“the HC Offering”) for gross proceeds of $786,200. In May 2023, Puma raised a total of $3,035,645 to be invested in the 2023 exploration and development of the Williams Brook Gold Project as outlined on May 25, 2023. Marcel Robillard, Puma’s President and CEO, commented, “We are very pleased with the strong level of support for our Offerings. The funds raised will enable us to further develop our Williams Brook Project, accelerate growth, and unlock value for our shareholders. This year, we’re focused on expanding the Lynx Gold Zone, testing brand-new gold targets along its NE extension, and exploring the vast property potential of our large land package, including new targets identified in our regional work. We look forward to 2023 and thank all our shareholders for their support as we build Canada’s next gold camp.” As part of this second tranche, 6,710,324 flow-through units (the “FT Units”) at $0.185 per FT Unit were issued for gross proceeds of $1,241,410. Each FT Unit is comprised of one flow-through share and one-half common share purchase warrant. Each whole warrant is exercisable to purchase one common share of the Company at $0.22 per share until May 30, 2025. Another 4,913,750 units (each a “Unit”) of the Company were also issued at $0.16 per Unit for gross proceeds of $786,200. Each Unit is comprised of one common share and one common share purchase warrant. Each warrant is exercisable to purchase one common share of the Company at $0.22 per share until May 30, 2025. All the warrants issued within the offerings 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 $0.45 for 30 consecutive trading days. The Accelera...