Puma Exploration Closes Final Tranche of $39,240 Private Placement
December 30 2019 - 5:48PM
Puma Exploration Inc. (
the “Company” or “Puma”) is
pleased to announce the closing of a third tranche of the current
private placement. In this final tranche, the Company raised a
total of $39,240 for the issuance of 218,000 flow through units
(“FT Units”) at the price of $0.18 per FT Unit. Each flow-through
unit comprises one flow-through common share and one-half of one
common share purchase warrant. Each full warrant gives its holder
the right to purchase one common share at a price of $0.35 per
share until Dec. 30, 2021. A total of $483,300 was raised by the
Company in different tranche closings. Insiders of the company
participated in the placement for aggregate gross proceeds of
$21,240. These insiders purchased units under the same terms as the
other investors.
In connection with the final tranche, the
company has paid no cash finders' fees neither issued finders'
warrants. All securities issued to purchasers and finders under the
offering are subject to a four-month hold period from the date of
issuance of the securities, pursuant to applicable securities
legislation and the policies of the TSX Venture Exchange. The
placement has received the conditional approval of the TSX Venture
Exchange.The proceeds of the offerings will be used for the
exploration and development of Puma Exploration's properties in New
Brunswick.
ABOUT PUMA EXPLORATION
Puma Exploration is a Canadian-based mineral
exploration company with precious and base metals projects in early
to advanced stages. While our priority remains to finalize the
acquisition of the Murray Brook project in New Brunswick, great
efforts will be made by the Company in the coming years to deploy
its DEAR strategy (Development, Exploration, Acquisition and
Royalties) in order to generate maximum value for shareholders.
QUALIFIED PERSONS AND QC/AC
Technical information provided in this news
release was prepared and reviewed by Marcel Robillard, P.Geo.,
qualified person as defined by NI 43-101. Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. Mr.
Robillard is not independent of the Company, as he is President of
Puma Exploration.
You can visit us on Facebook / Twitter /
LinkedInLearn more by consulting www.pumaexploration.com for
further information on Puma.Marcel Robillard, President
(418) 724-0901
president@explorationpuma.com
Forward-Looking Statements: This press release
may contain forward-looking statements. Such forward-looking
statements involve a number of known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Puma to be materially different from
actual future results and achievements expressed or implied by such
forward-looking statements. Readers are cautioned not to place
undue reliance on these forward-looking statements which speak only
as of the date the statements were made, except as required by law.
Puma undertakes no obligation to publicly update or revise any
forward-looking statements. These risks and uncertainties are
described in the quarterly and annual reports and in the documents
submitted to the securities administration.
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