Pancon Announces Intention to Extend Warrants
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PANCON ANNOUNCES INTENTION TO EXTEND WARRANTS
Toronto, Ontario, September 8, 2022: Pancontinental Resources Corporation (TSXV: PUC; OTCQB:
PUCCF) ("Pancon" or the "Company") announces that, subject to the required approval from the TSX
Venture Exchange, the Company intends to extend the expiry date of an aggregate of 22,075,500 common
share purchase warrants (each, a "Warrant").
12,750,000 Warrants were originally issued pursuant to a private placement offering of 25,000,000 units in
the capital of the Company at a price of $0.12 per unit which closed on September 11, 2022. Each unit was
comprised of one common share in the capital of the Company (a "Common Share") and one-half of one
Warrant. Each Warrant entitles the holder thereof to purchase one Common Share at a price of $0.18 until
September 11, 2022, subject to acceleration in certain circumstances.
12,868,000 Warrants, of which 3,542,500 Warrants have been exercised, were originally issued pursuant
to a private placement of 12,868,000 units in the capital of the Company at a price of $0.05 per unit, which
closed on September 17, 2019. Each unit was comprised of one Common Share and one Warrant. Each
Warrant entitled the holder to purchase one Common Share at an exercise price of $0.07 until September
16, 2022.
The Company will enter into supplemental warrant indentures amending the expiry date of the Warrants
from September 11, 2022 and September 16, 2022 to June 25, 2023. All other terms and conditions of the
Warrants remain unchanged.
About Pancon
Pancontinental Resources Corp. (TSXV: PUC / OTCQB: PUCCF), or Pancon, is a Canadian junior mining
company exploring the rich, underexplored Carolina Slate Belt in the southeastern USA. In January 2020,
Pancon won the exclusive right to explore and purchase the former Brewer Gold Mine property, with an
option period through October 2023. Between 1987-1995, Brewer produced 178,000 ounces of oxide gold
from open pits that extended to 65-meter depths, where gold (Au) and copper (Cu) sulphides were exposed
but could not be processed by the oxide heap leach operation. Pancon’s 100%-owned, 1,960-acre Jefferson
Gold Project nearly completely surrounds the 1,000 -acre Brewer property. The Brewer -Jefferson area of
interest, in Chesterfield County, South Carolina, is 12 kilometers along trend from the producing Haile
Gold Mine, which pr oduced 190,000 ounces of gold in 2021 (www.oceanagold.com). Brewer is a large,
epithermal, high sulphidation gold-copper system driven by a sub-volcanic intrusive, possibly connected to
a large copper-gold porphyry system at depth.
For further information, please contact:
Jeanny So, External Relations Manager
T: +1.647.202.0994
For additional information please visit our new website at http://www.panconresources.com/ and our
Twitter feed: @PanconResources.
217 Queen Street West, Suite 401
Toronto, Ontario
M5V 0R2
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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.
This news release contains forward -looking information which is not comprised of historical facts.
Forward-looking information is characterized by words such as "plan", "expect", "project", "intend",
"believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions
"may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that
could cause actual events, results, and opportunities to differ materially from those expressed or implied
by such forward-looking information. Factors that could cause actual results to differ materially from such
forward-looking information include, but are not limited to, changes in the state of equity and debt markets,
fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and
other risks involved in the mineral exploration and development industry, including those risks set out in
the Company’s management’s discussion and analysis as filed under the Comp any’s profile at
www.sedar.com. Forward -looking information in this news release is based on the opinions and
assumptions of management considered reasonable as of the date hereof, including that all necessary
governmental and regulatory approvals will be received as and when expected. Although the Company
believes that the assumptions and factors used in preparing the forward -looking information in this news
release are reasonable, undue reliance should not be placed on such information. The Company disclaims
any intention or obligation to update or revise any forward-looking information, other than as required by
applicable securities laws.