P2 Gold Announces Financing
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
May 2, 2022 News Release 22-09
P2 Gold Announces Financing
Vancouver, British Columbia, May 2, 2022; P2 Gold Inc. (“P2” or the “Company”) (TSX-V:PGLD) reports
that it intends to complete a non -brokered private placement of up to 3.2 million units (the “Units”)
at a price of $0.63 per unit for gross proceeds of up to approximately $2 million (the “Offering”).
Each Unit will consist of one common share in the capital of the Company (a “Share”) and one common
share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one additional
common share in the capital of the Company at an exercise price of $ 0.95 per common share for a
period of two years from the date of issue (the “Expiry Time”), provided that, if after four months
from the date of issue, the closing price of the common shares of the Company on the TSX Venture
Exchange (the “ Exchange”) is equal to or greater than $1. 90 for a period of 10 consecutive trading
days at any time prior to the Expiry Time, the Company will have the right to accelerate the Expiry Time
of the Warrants by giving notice to the holders of the Warrants by news release or other form of notice
permitted by the certificate representing the Warrants that the Warrants will expire at 4:30 p.m.
(Vancouver time) on a date that is not less than 15 days from the date notice is given.
The Offering will close on completion of documentatio n and is conditional upon receipt of all
necessary regulatory approvals, including the approval of the Exchange. The proceeds of the Offering
will be used to fund exploration and engineering expenditures and for general corporate purposes.
The Offering will be offered to accredited investors in all Provinces of Canada pursuant to applicable
securities laws. In connection with the Offering, the Company may pay finders’ fees as permitted by
the policies of the Exchange. All securities issued pursuant to the Offering will be subject to a four -
month hold period.
The securities to be offered in the Offering have not been, and will not be, registered under the U.S.
Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may
not be offered or sold in the United States or to, or for the account or benefit of, United States persons
absent registration or any applicable exemption from the registration requirements of the U.S.
Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer
to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale
of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Company anticipates that insiders will subscribe for 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 intends to rely on exemptions from the formal
valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a)
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of Multilateral Instrument 61-101 on the basis that the participation in the Offering by the insiders will
not exceed 25% of the fair market value of the company’s market capitalization. A material change
report in connection with the Offering will be filed less than 21 days before the closing of the Offering.
This shorter period is reasonab le and necessary in the circumstances as the Company wishes to
complete the Offering in a timely manner.
About P2 Gold Inc.
P2 is a mineral exploration and development company focused on advancing precious metals and
copper discoveries and acquisitions in the western United States and British Columbia.
For further information, please contact:
Joseph Ovsenek
President & CEO
(778) 731-1055
P2 Gold Inc.
Suite 1100, 355 Burrard Street
Vancouver, BC
V6C 2G8
(SEDAR filings: P2 Gold Inc.)
Michelle Romero
Executive Vice President
(778) 731-1060
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
Exchange) 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 that is intended to be covered by the safe harbours created by those laws. “Forward -looking
information” includes statements that use forward -looking terminology such as “may”, “will”,
“expect”, “anticipate”, “believe”, “continue”, “potential” or the negative thereof or other variations
thereof or comparable termin ology. Such forward -looking information includes, without limitation,
information with respect to the Company’s expectations, strategies and plans for exploration
properties including the Company’s planned expenditures and exploration activities, the Offering and
the issuances of securities pursuant to the Offering.
Forward-looking information is not a guarantee of future performance and is based upon a number of
estimates and assumptions of management at the date the statements are made , including without
limitation, that the Exchange will accept the Offering, the issuance of securities under the Offering will
be approved, required fundraising will be completed, as well as the other assumptions disclosed in this
news release . Furthermore, such forward -looking information involves a variety of known and
unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities,
results, performance or achievements of the Company to be materially different from any future plans,
intentions, activities, results, performance or achievements expressed or implied by such forward -
looking information , including without limitation, failure to obtain Exchange acceptance of the
Offering and/or the issuance of securities pursuant to the Offering, failure to raise sufficient funds on
the proposed terms or at all, and risks associated with mi neral exploration, including the risk that
actual results and timing of exploration and development will be different from those expected by
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management. See “Risk Factors” in the Company’s annual information form dated March 31, 2022
filed on SEDAR at www.sedar.com for a discussion of these risks.
The Company cautions that there can be no assurance that forward-looking information will prove to
be accurate, as actual results and future events could 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 does not assume any obligation to release publicly any
revisions to forward -looking information contained in this press releas e to reflect events or
circumstances after the date hereof.