Pan Global Resources Further Increases Financing Due to Strong Demand
Pan Global Resources Further Increases
Financing Due to Strong Demand
Vancouver, British Columbia--(Newsfile Corp. - July 15, 2020) - Pan Global Resources Inc. (TSXV:
PGZ) (OTC: PGNRF) (the "
Company
") today announced a further increase to its previously announced
non-brokered private placement, from 16,666,666 units to 20,850,000 units, at a price of $0.18 per unit
(the "
Placement
").
The Company originally announced an offering of up to 11,500,000 units but
increased the offering to 16,666,666 units due to strong demand.
The aggregate gross proceeds of the offering are expected to be up to $3,753,000 instead of the
originally planned $2,070,000.
Pan Global's President and CEO, Tim Moody, noted: "We have further increased the offering to
accommodate several key new investors and investment groups.
We consider the strong interest shown
by these key investors to be a positive development for the Company and the project."
In all other respects, the terms of the Placement will be as announced on June 3, 2020. The Placement is
expected to close on or about July 20, 2020.
Completion of the Placement is subject to the approval of the TSX Venture Exchange.
About Pan Global Resources
Pan Global Resources Inc. is actively engaged in base and precious metal exploration in Spain and is
pursuing opportunities from exploration through to mine development.
The Company has committed to
operating safely and with respect to the communities and environment where we operate.
On behalf of the Board of Directors
www.panglobalresources.com
.
FOR FURTHER INFORMATION PLEASE CONTACT:
Statements which are not purely historical are forward-looking statements, including any statements
regarding beliefs, plans, expectations or intentions regarding the future. It is important to note that actual
outcomes and the Company's actual results could differ materially from those in such forward-looking
statements. Risks and uncertainties include, but are not limited to, economic, competitive, governmental,
environmental and technological factors that may affect the Company's operations, markets, products
and prices. Readers should refer to the risk disclosures outlined in the Company's Management
Discussion and Analysis of its audited financial statements filed with the British Columbia Securities
Commission.
NEITHER 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/59778