P2 Gold Announces Funding Update, The Canadian Business Journal
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VANCOUVER, British Columbia, November 25, 2022 (GLOBE NEWSWIRE) — P2 Gold Co., Ltd. (“P2” or the “Company”) (TSX-V:PGLD) (OTCQB:PGLDF) has previously announced (see news release dated October 25, 2022) 4 million units (“Units”) For gross revenues up to approximately $1 million (the “Offering”) at a price of $0.27 per unit.
Each unit consists of one share of our common stock (“Shares”) and one whole (previously one-half) Common Stock Purchase Warrant (“Warrants”). Each Stock Acquisition Rights expires two years from the date of issuance (the “expiration date”, but four months after the date of issuance, after which the closing price of our common stock on the TSX Venture Exchange (the “Exchange”) was $0.80 (previously $1.00). At any time prior to the Expiration Time for a period of ten (10) consecutive trading days, the Company reserves the right to accelerate the Warrant Expiration Time by providing notice to Warrant Holders in the form of a news release or otherwise. A certificate representing the warrant that the warrant will expire at 4:30 p.m. (Vancouver time) on a date not less than 15 days from the date notice was given.
The offering will close upon completion of documentation and is subject to all necessary regulatory approvals, including exchange approvals. Proceeds from the offering will be used to fund exploration and engineering expenditures and for general corporate purposes.
Offerings are available to accredited investors in all Canadian provinces in accordance with applicable securities laws. In connection with the Offering, the Company may pay a Discoverer’s Fee as permitted by the Exchange’s policies. All securities issued pursuant to the offering are subject to a four month hold period.
The securities offered in the offering have not been and will not be registered, offered or sold under the United States Securities Act of 1933, as amended (the “United States Securities Act”) or any state securities law of the United States. It is not. In the United States, on behalf of, or for the account or benefit of a United States Person, without registration or an applicable exemption from registration requirements under United States securities laws and applicable United States state securities laws. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States, nor does it constitute an offer, solicitation or sale of such securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful. Not a thing.
We expect insiders to apply for shares. The issuance of units to insiders is considered a related party transaction subject to Multilateral Instrument 61-101 – Minority Securities Holders Protection in Special Transactions. The Company has reviewed the formal valuation and minority valuations provided under Sections 5.5(a) and 5.7(a) of Multilateral Securities 61-101 on the basis that no more than 25 insider participation in the offering It will rely on waivers of shareholder approval requirements. % of the fair market value of the company’s market capitalization. A Material Change Report relating to the Offering will be submitted within 21 days of the termination of the Offering. This short period is reasonable and necessary in circumstances where we wish to complete the offering in a timely manner.
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 western United States and British Columbia.
| For more information, please contact: | |
| Joseph Ovsenek President and CEO (778) 731-1055 P2 Gold Co., Ltd. | Michelle Romero vice president (778) 731-1060 |
Neither the Exchange nor its regulated service providers (as that term is defined in the Exchange’s policies) take 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 covered by the safe harbors created by those laws. “Forward-looking information” includes future includes statements that use forward-looking terms or their negative forms or other variations. its or equivalent terms. Such forward-looking information includes information about our expectations, strategies and plans with respect to exploration properties, including our planned spending and exploration activities, offerings and the issuance of securities pursuant to offerings. , but not limited to:
Forward-looking information is not a guarantee of future performance and is not a statement of management’s opinion at the time the statement was made, including, but not limited to, the exchange’s acceptance of an offering or the issuance of securities under an offering. Based on many estimates and assumptions. Approval and completion of required funding, as well as other prerequisites disclosed in this news release. In addition, such forward-looking information is subject to various known and unknown risks, uncertainties and other factors that may cause our actual plans, intentions, actions, or Any activity, result, performance or achievement whose result, achievement or achievement is expressed or implied by future plans, intentions or information regarding such forward-looking statements. This includes, but is not limited to, the exchange’s failure to accept the offering and/or issue securities under the offering, failure to raise sufficient funding on the terms proposed for mineral exploration. associated risks. It includes the risk that actual results and the timing of exploration and development may differ from management’s expectations. For a discussion of these risks, see “Risk Factors” in his March 31, 2022 Company Annual Information Form filed with his SEDAR at www.sedar.com.
There can be no assurance that forward-looking information will prove to be accurate, as actual results or future events could differ materially from those projected by such information. Accordingly, investors should not place undue reliance on forward-looking information.
Except as required by law, we undertake no obligation to publicly release any forward-looking information contained in this press release to reflect events or circumstances after the date of this press release. not.
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P2 Gold Announces Funding Update, The Canadian Business Journal
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