Pinnacle Closes Non-Brokered Private Placement and Associated Acquisition of El Potrero Option
250 - 750 West Pender Street, Vancouver, BC V6C 2T7 - Tel. (604) 669 - 0868
TSXV: PINN OTC: NRGOF
Pinnacle Closes Non-Brokered Private Placement and Associated
Acquisition of El Potrero Option
VANCOUVER, BRITISH COLUMBIA, February 25, 2025 (TSXV: PINN, OTC: NRGOF, Frankfurt:
X6C) – Pinnacle Silver and Gold Corp. ("Pinnacle" or the “ Company") announces that, further to
the Company's news releases dated October 28, 2024, December 10, 2024, January 29, 2025 and
February 24, 2025, it has closed its non-brokered private placement and the associated staged option
to acquire up to a 100% interest in the Potrero property in Durango, Mexico (the “Acquisition”). For
more information on the Acquisition, please refer to the Company's news release of February 24,
2025.
The Part-and-Parcel private placement was fully subscribed and raise d gross proceeds of $800,000,
subject to final TSXV approval. The placement consists of 20,000,000 units (the "Units") at a price of
$0.04 per Unit, with each Unit comprising one common share (“Share”) in the capital of the
Company and one-half share purchase warrant ("Warrant"), whereby each whole Warrant shall be
convertible into an additional Share at an exercise price of $0.06 for a period of 24 months from the
date of issuance. No finder’s fees were paid.
The net proceeds raised from the Financing will be used for exploration and development of the
Potrero Project, payment of the back-taxes, and for working capital.
All securities to be issued will be subject to a four -month hold period from the date of issuance and
subject to TSX Venture Exchange approval. The securities offered have not been registered under
the United States Securities Act of 1933 , as amended, and may not be offered or sold in the United
States absent registration or an applicable exemption from the registration requirements.
Insiders subscribed for an aggregate of 648,500 Units for a total of $25,940. As insiders of Pinnacle
participated in the financing, it is deemed to be a “related party transaction” within the meaning of
Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-
101”). Pinnacle is relying on the exemptions from the formal valuation and minority approval
requirements contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, on the basis that the fair market
value of the transaction does not exceed 25% of the Company’s market capitalization. The Company
will be filing a material change report in respect of the related party transaction on SEDAR.
Subject to final TSXV approval, it is anticipated that the Company’s share will resume trading effective
at the open on February 28, 2025.
About Pinnacle Silver and Gold Corp.
Pinnacle is focused on district-scale exploration for precious metals in the Americas. The addition of
the high-grade Potrero gold-silver project in Mexico’s Sierra Madre Belt will complement the Company’s
project portfolio and provide the potential for near-term production. In the prolific Red Lake District of
250 - 750 West Pender Street, Vancouver, BC V6C 2T7 - Tel. (604) 669 - 0868
TSXV: PINN OTCQB: NRGOF
northwestern Ontario, the Company owns a 100% interest in the past-producing, high-grade
Argosy Gold Mine and the adjacent North Birch Project with an eight -kilometre-long target horizon.
With a seasoned, highly successful management team and quality projects, Pinnacle Silver and Gold
is committed to building long-term, sustainable value for shareholders.
Signed: “Robert A. Archer”
President & CEO
FOR FURTHER INFORMATION CONTACT:
Email: [email protected]
Tel.: +1 (877) 271-5886 ext. 110
Website: www.pinnaclesilverandgold.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada
accepts responsibility for the adequacy or accuracy of this release.