Pancontinental GOLD Announces Closing of First Tranche of Private Placement of Units
December 5, 2017
PANCONTINENTAL GOLD ANNOUNCES CLOSING OF FIRST TRANCHE
OF PRIVATE PLACEMENT OF UNITS
Pancontinental Gold Corporation (TSX-V:PUC) (“Pancon Gold” or the “Company”) announces
that it has closed the first tranche of its previously announced non -brokered private placement
through the issuance of 3,000,000 units (“Units”) at a price of $0.05 per Unit for gross proceeds
of $150,000 (the “Offering”). Each Unit is comprised of one common share (“Common Share”)
of the Company and one Common Share purchase warrant (“ Warrant”). Each Warrant entitles
the holder thereof to purchase one Common Share at an exerc ise price of $0.07 for twenty -four
(24) months from the date of issuance, provided that the expiry date can be accelerated in the event
the Common Shares trade at $0.15 or more for at least twenty (20) consecutive trading days
following the expiry of the s tatutory four month and one day resale restriction. Proceeds of the
Offering will be used to explore and advance its 100% owned Jefferson Gold Project and for
working capital purposes.
Closing of the Offering is subject to receipt of all necessary corporat e 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 securities legislation.
This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall
there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful. The securities have not been and will not be registered under the United States
Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state
of the United States and may not be offered or sold within the United States (as defined in
Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and
applicable state securities laws or pursuant to an exemption from such registration requirements.
About Pancontinental Gold Corporation
Pancontinental Gold Corporation ( www.pancongold.com) is a Canadian -based mining company
focused on the exploration and development of the Jefferson Gold Project, located in Chesterfield
County, South Carolina, USA, and on acquiring additional prospective properties. The Company’s
shares are listed on the TSX Venture Exchange, trading under the symbol PUC. The Company
also retains a 1% gross overriding royalty on future production from a rare earth element property
in Australia.
365 Bay St, Suite 400
Toronto, Ontario
M5H 2V1
ON BEHALF OF THE BOARD OF DIRECTORS
Layton Croft
For further information, please contact:
Layton Croft
President and CEO
Tel: 1-416-293-8437 or 1-980-498-7688
Email: [email protected]
For additional information please visit our web site: www.pancongold.com, and our Twitter
feed: @PanconGold.
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.
Cautionary Language and Forward Looking Statements
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 recei ved 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.