Puma Exploration Closes $900,000 Private Placements

Nachrichtenquelle: globenewswire
02.12.2020, 17:43  |  150   |   |   

RIMOUSKI, Quebec, Dec. 02, 2020 (GLOBE NEWSWIRE) -- Puma Exploration Inc., PUMA-TSXV, (“Puma”) is pleased to announce the closing of the fully subscribed ordinary units private placement for an amount of $450,000 and a first tranche of the Flow-Through units for an amount of $450,000 for a total of $900,000.

CLOSING OF FULLY SUBSCRIBED ORDINARY UNITS
The Company issued 3 million units at the price of $0.15 per Unit. Each unit comprises one common share and one common share purchase warrant. Each warrant gives its holder the right to purchase one common share at a price of $0.25 per share until December 02, 2022.

In connection with the private placement, the company has paid cash finders' fees in an amount of $29,340 and issued 195,600 finders' warrants, each entitling the holder to acquire one additional common share of Puma at a price of $0.15 for 24 months. All securities issued to purchasers and finders under the offering are subject to a four-month holding 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.

One insider of the company participated in the placement for aggregate gross proceeds of $60,000. The insider purchased units under the same terms as the other investors. The participation of the insider is exempt from the formal valuation and shareholder approval requirements pursuant to sections 5.5(a) and 5.7(1)(a) of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions, on the basis that the fair market value of such participation or the consideration paid by such insiders does not exceed 25 percent of the market capitalization of the company.

CLOSING OF FIRST TRANCHE OF FLOW-THROUGH UNITS
Puma Exploration announces the closing of a first tranche of the Flow-Through private placement for an amount of $450,000. The Company issued 2,250,000 Flow-Through units at the price of $0.20 per Unit. Each unit comprises one common share and one half of one common share purchase warrant. Each warrant gives its holder the right to purchase one common share at a price of $0.25 per share until December 02, 2022.

In connection with the private placement, the company has paid cash finders' fees in an amount of $35,440 and issued 177,200 finders' warrants, each entitling the holder to acquire one additional common share of Puma at a price of $0.20 for 24 months. 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.

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Puma Exploration Closes $900,000 Private Placements RIMOUSKI, Quebec, Dec. 02, 2020 (GLOBE NEWSWIRE) - Puma Exploration Inc., PUMA-TSXV, (“Puma”) is pleased to announce the closing of the fully subscribed ordinary units private placement for an amount of $450,000 and a first tranche of the …

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