Puma Exploration Receives $1.75m From Warrant Exercise
July 26 2022 - 10:00AM
Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the
"
Company" or "
Puma") is pleased
to announce that all of the outstanding warrants (the "Warrants")
issued in connection with the Company’s July 2020 private placement
financing (see News Release dated July 24, 2020) have been
exercised, resulting in aggregate proceeds to Puma of CAD$1.75
million. The Warrants were exercisable into one common share of the
Company at CAD$0.10 per common share and expired on July 24, 2022.
No commission was paid in connection with the exercise of the
Warrants. The Company intends to use the proceeds to continue
exploration on its 100%-owned Williams Brook Gold Project in New
Brunswick, Atlantic Canada and for general working capital
purposes.
"I would like to thank our shareholders for
their ongoing support and vote of confidence. The proceeds brought
in by the exercise of the Warrants strengthen our already robust
treasury. This influx of cash in the current market downturn is
especially welcome. The funds will allow us to advance exploration
on our Williams Brook Project and continue to build shareholder
value,” said Marcel Robillard, President and CEO. “Our 2022 Summer
Exploration Program is well underway, and we look forward to
another exciting summer of discovery," he added.
Puma has a total of 117,894,221 shares issued
and outstanding as of today.
CSE LISTING OF CANADIAN COPPER
INC.
Canadian Copper Inc. (“Canadian Copper”)
commenced active trading today on the Canadian Stock Exchange
(“CSE”) under the symbol “CCI”. Exploration results from the 2021
drilling campaign at the Chester Copper Project (“Chester”) will be
announced in the coming weeks. Canadian Copper plans to increase
the known copper resources on its properties and expand exploration
activities across its project portfolio in New Brunswick, Canada.
The next phase of exploration at the Chester property, which holds
a significant historical copper resource, will begin this summer,
along with regional prospecting activities.
“Puma decided to spin out its impressive
portfolio of copper and base metal assets a year ago to focus on
its gold discovery at Williams Book. The launch of Canadian Copper,
an independent copper-focused, publicly-listed company, is great
news. It ensures the development of these highly prospective copper
assets and delivers growth and value to Puma’s shareholders. We
wish Simon Quick, Canadian Copper’s CEO, great success as he
advances the Chester Project and identifies new copper and base
metal opportunities in New Brunswick.”
Simon Quick, CEO of Canadian Copper, commented:
“Today’s announcement is a landmark moment for Canadian Copper. I
want to thank the many stakeholders, third-party professionals, and
our initial private investors for making this key milestone
possible. Our exploration work on our large portfolio of copper and
base metal assets has been ongoing since we entered into the option
agreement with Puma to acquire the properties. We are currently
working on expanding the historical copper resource at Chester and
expect to issue a new mineral resource estimate (“MRE”) later this
year.”
ABOUT CANADIAN COPPER
INC.Canadian Copper is a Canadian-based mineral
exploration company with a copper and base metals portfolio of
historical resources and grassroots projects. The Company is
focused on the prolific Bathurst Mining Camp (BMC) of New
Brunswick, Canada.
Visit www.canadiancopper.com for more
information or contact:
Simon Quick,Director and CEO,
(905) 220-6661simon@canadiancopper.com
ABOUT PUMA EXPLORATION
Puma Exploration is a Canadian-based mineral
exploration company with precious metals projects located near the
Famous Bathurst Mining Camp (BMC) in New Brunswick, Canada. The
Company is committed to its DEAR strategy
(Development, Exploration, Acquisition and Royalties) to generate
maximum value for shareholders with low share dilution.
Connect with us on Facebook / Twitter /
LinkedIn
Visit www.explorationpuma.com for more
information or contact:
Marcel Robillard,President,
(418) 750-8510;president@explorationpuma.com
Mia Boiridy,Head of Investor
Relations and Corporate Development, (250) 575-3305;
mboiridy@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) accept 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.
Puma Exploration (TSXV:PUMA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Puma Exploration (TSXV:PUMA)
Historical Stock Chart
From Jul 2023 to Jul 2024