Puma Exploration (PUM-TSXV) is pleased to announce the closing of a non-brokered private placement financing of flow-through units with qualified investors. The Company issued 4,380,000 units at an issue price of $0.05 per flow-through units for gross proceeds of $219,000. The flow-through units comprise one flow-through common share and one-half of one common share purchase warrants. Each full warrant gives its holder the right to purchase one common share at a price of $0.10 per share until December 29, 2017.
In connection with this Private Placement, the Company has paid cash finder's fees in an amount of $16,900 and issued 338,000 finder's warrants will entitle holder to acquire one additional common share of Puma at a price of $0.05 for 24 months.
All securities issued to purchaser and finder under the Offering are subject to a four-month hold period from the date of issuance of the securities, pursuant to applicable securities legislation and the policies of the TSX Venture Exchange. These placements have received the conditional approval of the TSX Venture Exchange.
The proceeds of the Offerings will be used for the exploration and development of Puma's properties in New Brunswick and Manitoba.