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vancouver british columbia, February 2, 2024 /CNW/ – P2 Gold Co., Ltd. (“P2” or the “Company”) (TSXV: PGLD) (OTCQB: PGLDF) reports that it has closed the first tranche (the “First Tranche”) of a non-brokered private placement of units (the “Private Placement”). Masu. ) The Company’s capital consists of 6,250,000 units (hereinafter referred to as “Units”), the price of which is $0.08 per unit of total revenue $500,000.
Each Unit consists of one common share of the Company’s capital stock and one common stock purchase warrant (a “Warrant”). Each warrant entitles the holder to purchase one additional share of common stock in our capital stock at the exercise price. $0.15 For a period of two years from the date of issuance (the “Expiration Date”), the closing price of the Company’s common stock on the TSXV Enture Exchange will apply after four months from the date of issuance per common share. (“Exchange”) is now complete. $0.30 At any time prior to the Expiration Date and during a period of ten (10) consecutive business days, the Company will notify the holders of the Stock Acquisition Rights by means of a news release or other form of notice permitted by the Certificate. reserves the right to expedite.Warrants Expiring Warrants 4:30pm (Vancouver At least 15 days after the date of notification.
Proceeds of the private placement will be used to finance engineering costs and for general corporate purposes.
Securities issued pursuant to the first tranche are subject to a four-month hold period; June 2, 2024. In connection with the first tranche, the Company paid aggregate finder fees. $9,732 A matching 6% of the revenue from subscriptions made by certain locations is donated to arm’s length transactions. The securities offered pursuant to the Private Placement have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold. US In the absence of registration or an applicable exemption from the registration requirements of such laws.
Company insiders subscribed to the first tranche of 1,122,500 units. The issuance of units to insiders is considered a related party transaction subject to Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The Company does not comply with the formal evaluation and minority claims set forth in Sections 5.5(a) and 5.7(1)(a) of Multilateral Instrument 61-101 on the grounds that insider participation in the private placement is unreasonable. It relied on an exemption from shareholder approval requirements. More than 25% of the fair market value of the company’s market capitalization.
About P2 Gold Co., Ltd.
P2 is a mineral exploration and development company focused on advancing the discovery and acquisition of precious metals and copper in the West. America and british columbia.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the Exchange’s policies) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
This press release contains “forward-looking information” within the meaning of applicable securities laws and is intended to be subject to the safe harbors provided by those laws. “Forward-looking information” includes words such as “may,” “will,” “anticipate,” “anticipate,” “believe,” “continue,” “could,” or This includes statements using forward-looking terminology, including the negative of these terms and other variations. that term or an equivalent term. Such forward-looking information includes, without limitation, information regarding our expectations, strategies and plans for our exploration properties, including our planned expenditures and exploration activities and the use of proceeds from private placements.
Forward-looking information is not a guarantee of future performance and includes, but is not limited to, whether the Company will be able to use the proceeds from the Private Placement to: Based on estimates and assumptions. As with other assumptions disclosed in this news release, these are expected. In addition, such forward-looking information may include, but is not limited to, any future plans, intentions, activities, results or achievements expressed or implied by such forward-looking information. , results include, but are not limited to, risks associated with mineral exploration, including the failure to use the proceeds from the private placement as expected and the risk that actual results and the timing of exploration may change; And the development will be different from management’s expectations. See “Risk Factors” in the Company’s dated Annual Information Form. March 16, 2023 These risks have been filed on SEDAR (www.sedar.com).
The Company cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events may differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information.
Except as required by law, the Company undertakes no obligation to publicly release any revisions to the forward-looking information contained in this press release to reflect events or circumstances after the date of this press release.
Source P2 Gold Co., Ltd.
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