Pancontinental GOLD Announces Private Placement Financing of up to $500,000
October 12, 2017
PANCONTINENTAL GOLD ANNOUNCES PRIVATE PLACEMENT FINANCING OF UP TO $500,000
Pancontinental Gold Corporation (TSX-V:PUC) (“Pancon Gold” or the “Company”) is pleased to announce
that it intends to complete a non -brokered private placement financing of up to 1 0,000,000 units (each, a
“Unit”) at a price of $0.05 per Unit for gross proceeds of up to $500,000 (the “Offering”).
Each Unit consists of one common share of the Company (a “Common Share”), and one Common Share
purchase warrant (a “Warrant”) entitling the holder thereof to purchase one Common Share at an exercise
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 statutory four month and one day resale restriction. The Company
may pay certain finder’s fees with respect to gross proceeds raised. The Common Shares and Warrants
comprising the Units will be subject to a resale restriction for four months and a day from the date of
issuance.
The Company intends to use the net proceeds from the Offering to explore and advance its 100% owned
Jefferson Gold Project (“Jefferson Project”) and for working capital purposes.
Pancon Gold’s next phase of exploration at the Jefferson Gold Project will be two -fold. Phase one is
completing a comprehensive data compilation of the various sampling, trenching, drilling and geophysical
analysis results conducted by multiple companies at and around the Jefferson Project over the past three
decades. This will provide a complete f oundation of data and analysis in order to direct future phases of
exploration. Phase two is conducting additional geophysical analyses over select areas at the Jefferson
Project.
Layton Croft, President and Chief Executive Officer of Pancon Gold, commented: “Based on the drilling
results and our interpretation of all available geophysical data, we have determined that the potential of the
Jefferson Gold Project is much better than we previously thought. Our strategic land position ,
approximately 1,455 acres on the Carolina Gold Belt trend near the Haile gold mine and adjacent to the
former Brewer gold mine, makes us the best positioned junior explorer in the region to discover a new
Haile-type deposit as well as porphyry-related mineralized systems. In addition, we have been talking to
potential strategic partners who could bring expertise, new technology and capital to assist us in achieving
our objectives and increasing shareholder value.”
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.
ON BEHALF OF THE BOARD OF DIRECTORS
Layton Croft
365 Bay St, Suite 400
Toronto, Ontario
M5H 2V1
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 compris ed 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.