Puma Exploration Arranges $5,000,000 Private Placement
December 01 2021 - 8:18AM
Puma Exploration Inc. (TSXV:PUMA) (the “Company” or “Puma”)
announces that it has entered into an agreement with Desjardins
Capital Markets (the “Agent”), under which the Agent has agreed to
sell, on a marketed private placement basis, up to 10,000,000
flow-through common shares (the “Flow-Through Shares”) of the
Company at a price of C$0.50 per Flow-Through Share (the “Offer
Price”) for total gross proceeds of up to C$5,000,000 (the
“Offering”).
The gross proceeds of the Flow-Through shares
sold under the Offering will be used to explore Puma’s Williams
Brook Gold project located in New Brunswick. The Company agrees
that an amount equal to the gross proceeds received by the Company
will be used to incur Canadian Exploration Expenses (CEE) which
will qualify as “flow-through mining expenditures”, (each as
defined in the Income Tax Act (Canada) (the “Tax Act”) and referred
to as a “Qualifying Expenditures”) related to the exploration
program of the Company. The Company will renounce such Qualifying
Expenditures with an effective date of no later than December 31,
2021.
The Flow-Through Shares will be offered for sale
by the Agent in each of the provinces and territories of Canada.
Closing is expected to occur on or about December 15, 2021, or
other such date as the Company and the Agent may agree. Closing of
the Offering is subject to certain conditions including, but not
limited to, the receipt of all necessary approvals including the
approval of the TSX Venture Exchange. The Flow-Through Shares sold
under the Offering will be subject to a four-month hold period
under applicable securities law in Canada.
APPOINTMENT OF MIA BOIRIDY AS HEAD OF
INVESTORS RELATIONS AND CORPORATE DEVELOPMENT
The company is also pleased to announce that
Mrs. Mia Boiridy, BSc. Geology (honours), MSc. Geochemistry, has
joined Puma as Head of Investor Relations and Corporate
Development. Mia is a seasoned executive with a focus on the junior
resource sector for the last 8 years. She led IR and corporate
development for several Canadian junior exploration companies and
was recently, President and CEO of MacDonald Mines, a junior
exploration company based in Toronto, Ontario.
She will be responsible for the communication
and marketing activities of the Company, the development and growth
of relationships with stakeholders and the primary point of contact
for investors, analysts and the media.
“We are pleased to welcome Mia to the PUMA team.
She brings a wealth of experience and skills that will be
instrumental as we continue to build our Williams Brook Project.
Communication to shareholders and communities is key, and with the
recent success and progress it was time to have someone dedicated
to this very important task,” notes Marcel Robillard, President and
CEO of Puma Exploration.
GRANT OF OPTIONS
Pursuant to its stock option plan and subject to
regulatory acceptance, Puma has granted an aggregate total of
1,000,000 incentive stock options to certain directors, advisers
and consultants of the company, vesting immediately. These options
will be exercisable at a price of 40 cents per common share and
will expire on December 1st, 2023.
This news release does not constitute an offer
to sell or a solicitation of an offer to buy any of the securities
in the United States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as
amended, or any state securities laws and may not be offered or
sold within the United States or to U.S. Persons unless an
exemption from such registration is available.
ABOUT PUMA EXPLORATION
Puma Exploration is a Canadian-based mineral
exploration company with precious and base metals projects in early
to advanced stages located in the Famous Bathurst Mining Camp (BMC)
in New Brunswick, Canada. Great efforts will be made by the Company
in the coming years to deploy its DEAR strategy
(Development, Exploration, Acquisition and Royalties) in order to
generate maximum value for shareholders with low shares
dilution.
You can visit us on Facebook / Twitter /
LinkedIn
Learn more by consulting www.explorationpuma.com
for further information on Puma.
Marcel Robillard, President, (418) 750-8510;
president@explorationpuma.com
Neither the 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.
Forward-Looking Statements: This press release
may contain forward-looking statements. Such forward-looking
statements involve a number of known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Puma to be materially different from
actual future results and achievements expressed or implied by such
forward-looking statements. Readers are cautioned not to place
undue reliance on these forward-looking statements which speak only
as of the date the statements were made, except as required by law.
Puma undertakes no obligation to publicly update or revise any
forward-looking statements. These risks and uncertainties are
described in the quarterly and annual reports and in the documents
submitted to the securities administration.
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