P2 Gold Announces Upsizing and Closing of Final Tranche of Financing
P2 Gold Announces Upsizing and Closing of
Final Tranche of Financing
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWS WIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
/
VANCOUVER, BC
,
Sept. 17, 2024
/CNW/ -
P2 Gold Inc.
("P2" or the "Company") (TSXV: PGLD)
reports that it (a) intends to increase the size of its non-brokered private placement, previously
announced on
August 26, 2024
,
September 4, 2024
and
September 9, 2024
, to 20 million units
(from 18 million units) in the capital of the Company (the "Units") at a price of
$0.05
per Unit for
gross proceeds of
$1 million
(the "Offering") and (b) has closed the third and final tranche (the "Final
Tranche") of the Offering consisting of 5,050,000 Units for gross proceeds of
$252,500
.
Each Unit will consist of one common share in the capital of the Company (an "Offering 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
$0.10
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
$0.20
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 30 days from the
date notice is given.
The proceeds of the Offering will be used to fund exploration and development expenditures and for
general corporate purposes. All securities issued pursuant to the Final Tranche will be subject to a
four-month hold period expiring on
January 17, 2025
.
The securities 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. In connection with the Offering, the Company may pay finders' fees as permitted by the
policies of the Exchange. The Offering will be offered to accredited investors in all Provinces of
Canada
pursuant to applicable securities laws. All securities issued pursuant to the Offering will be
subject to a four-month hold period.
About P2 Gold Inc.
P2 Gold is a mineral exploration and development company focused on advancing its gold-copper
Gabbs Project on the Walker Lane Trend in Nevada. A positive preliminary economic assessment
has outlined a long-life, mid-size mine at Gabbs with annual average production of 104,000 ounces
gold and 13,500 tonnes copper over a 14.2-year mine life.
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 terminology. 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 mineral exploration,
including the risk that actual results and timing of exploration and development will be different from
those expected by management. See "Risk Factors" in the Company's annual information form for
the year ended
December 31, 2023
, dated
March 21, 2024
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 release to reflect events or
circumstances after the date hereof.
SOURCE
P2 Gold Inc.
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%SEDAR: 00045664E
For further information:
For further information, please contact: Joseph Ovsenek, President &
CEO, (778) 731-1055; P2 Gold Inc., Suite 789, 999 West Hastings Street, Vancouver, BC, V6C
2W2, [email protected], (SEDAR filings: P2 Gold Inc.); Michelle Romero, Executive Vice President,
(778) 731-1060
CO: P2 Gold Inc.
CNW 17:15e 17-SEP-24