Peruvian Metals Closes First Tranche of Private Placement
Peruvian Metals Closes First Tranche of
Private Placement
Edmonton, Alberta--(Newsfile Corp. - September 1, 2020) -
Peruvian Metals Corp. (TSXV: PER)
("Peruvian Metals" or the "Company") is pleased to
announce that it has closed the first tranche of
2,100,000 units of its previously announced private placement offering (the "Offering") of up to 5,000,000
units (the "Units") at an offering price of $0.05 per Unit (see the Company's press release dated August
18, 2020), to raise gross proceeds of $105,000.
Each Unit consists of one (1) common share of the
Company, and one (1) share purchase warrant (the "Warrants") to acquire one additional common share
at an exercise price of $0.10 per share until September 1, 2022.
In the event that the common shares of
the Company trade at a closing price greater than $0.20 per share for a period of 10 consecutive days,
then the Company may deliver a notice to the Warrant holders that they must exercise their Warrants
within the next 30 days, or the Warrants will expire.
The net proceeds from the Offering will be used to
finance further work on the Company's mineral resource properties in Peru, as well as to provide the
Company with working capital for general and administrative expenses.
All securities issued will be subject to resale restrictions until January 2, 2021.
About Peruvian Metals Corp.
Peruvian Metals Corp. is a Canadian Exploration and Mineral Processing Company. Our business
model is to provide toll milling services for clients and to produce high grade concentrates from mineral
purchases. The Company continues to acquire and develop precious and base metal properties in Peru.
For further information on Peruvian Metals Corp. please visit
www.peruvianmetals.com
.
Peruvian Metals Corp. is a Canadian resource company listed on the
TSX Venture Exchange: Symbol "PER"
For additional information, contact:
Jeffrey Reeder Tel: (647) 302-3290
Website:
www.peruvianmetals.com
Email:
Neither the 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.
Disclosure Regarding Forward-Looking Statements:
This press release contains certain "Forward-
Looking Statements" within the meaning of applicable securities legislation. We use words such as
"might", "will", "should", "anticipate", "plan", "expect", "believe", "estimate", "forecast" and similar
terminology to identify forward looking statements and forward-looking information. Such statements and
information are based on assumptions, estimates, opinions and analysis made by management in light
of its experience, current conditions and its expectations of future developments as well as other factors
which it believes to be reasonable and relevant. Forward-looking statements and information involve
known and unknown risks, uncertainties and other factors that may cause our actual results to differ
materially from those expressed or implied in the forward-looking statements and information and
accordingly, readers should not place undue reliance on such statements and information. Risks and
uncertainties are more fully described in our annual and quarterly Management's Discussion and
Analysis and in other filings made by us with Canadian securities regulatory authorities and available at
www.sedar.com. While the Company believes that the expectations expressed by such forward-looking
statements and forward-looking information and the assumptions, estimates, opinions and analysis
underlying such expectations are reasonable, there can be no assurance that they will prove to be
correct. In evaluating forward-looking statements and information, readers should carefully consider the
various factors which could cause actual results or events to differ materially from those expressed or
implied in the forward looking statements and forward-looking information.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/63070