Pancon Announces Private Placement
Pancon Announces Private Placement
Toronto, Ontario--(Newsfile Corp. - August 26, 2019) - Pancontinental Resources Corporation (TSXV: PUC) ("Pancon" or the
"Company") announces that it intends to complete a non-brokered private placement financing of up to 10,000,000 units (each,
a "Unit") at a price of $0.05 per Unit, for gross proceeds of up to $500,000 (the "Offering").
Each Unit is comprised of one common share in the capital of the Company (each, a "Common Share") and one common share
purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder to purchase one Common Share at an exercise price
of $0.07 for thirty-six (36) months from the date of issuance. The Company may pay certain finder's fees with respect to gross
proceeds raised.
The Company intends to use the net proceeds from the Offering to fund the advancement of the Company's 100%-owned
Jefferson Gold Project in South Carolina, USA and its Northern Ontario exploration projects as well as for general and working
capital purposes.
Closing of the Offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of TSX
Venture Exchange. All securities issued in connection with the Offering will be subject to a hold period of four months plus a day
from the date of issuance and the resale rules of applicable security legislation.
About Pancontinental Resources Corporation
Pancontinental Resources Corporation (TSXV: PUC), or Pancon, is a Canadian junior mining company focused on North
American gold and battery metals projects surrounding or near producing or former mines in proven and safe mining districts.
Pancon's 100%-owned Jefferson Gold Project is 15 km along-trend from the Haile Gold Mine and surrounds the former Brewer
Gold Mine property, on the prolific and underexplored Carolina Slate Belt in South Carolina, USA. In addition, Pancon has five
nickel-copper-cobalt projects in Northern Ontario. The Montcalm, Gambler, Nova and Strachan Projects are near and/or
surround the former Montcalm Ni-Cu-Co Mine property, located 65 km northwest of Timmins. The St. Laurent Project has an
advanced Ni-Cu-Co-Au-Pt-Pd target and is located 50 km south of the Detour Lake Mine and 20 km southwest of the Casa
Berardi MinePancontinental Resources Corporation (TSXV: PUC), or Pancon, is a Canadian junior mining company focused on
North American gold and battery metals projects surrounding or near producing or former mines in proven and safe mining
districts. Pancon's 100%-owned Jefferson Gold Project is 15 km along-trend from the Haile Gold Mine and surrounds the former
Brewer Gold Mine property, on the prolific and underexplored Carolina Slate Belt in South Carolina, USA. In addition, Pancon
has five nickel-copper-cobalt projects in Northern Ontario. The Montcalm, Gambler, Nova and Strachan Projects are near and/or
surround the former Montcalm Ni-Cu-Co Mine property, located 65 km northwest of Timmins. The St. Laurent Project has an
advanced Ni-Cu-Co-Au-Pt-Pd target and is located 50 km south of the Detour Lake Mine and 20 km southwest of the Casa
Berardi MinePancontinental Resources Corporation (TSXV: PUC), or Pancon, is a Canadian junior mining company focused on
North American gold and battery metals projects surrounding or near producing or former mines in proven and safe mining
districts. Pancon's 100%-owned Jefferson Gold Project is 15 km along-trend from the Haile Gold Mine and surrounds the former
Brewer Gold Mine property, on the prolific and underexplored Carolina Slate Belt in South Carolina, USA. In addition, Pancon
has five nickel-copper-cobalt projects in Northern Ontario. The Montcalm, Gambler, Nova and Strachan Projects are near and/or
surround the former Montcalm Ni-Cu-Co Mine property, located 65 km northwest of Timmins. The St. Laurent Project has an
advanced Ni-Cu-Co-Au-Pt-Pd target and is located 50 km south of the Detour Lake Mine and 20 km southwest of the Casa
Berardi Mine.
For further information, please contact:
Layton Croft, President & CEO or Jeanny So, Manager, External Relations
E:
T: +1.647.202.0994
For additional information please visit our new website at
www.panconresources.com
and our Twitter feed:
@PanconResources
.
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
Company'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.
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https://www.newsfilecorp.com/release/47283