Pancontinental Gold Announces Extension of Private Placement
Toronto, Ontario–(Newsfile Corp. – November 15, 2017) – Pancontinental Gold Corporation (TSXV: PUC) (“Pancon Gold” or the “Company”) announces that, further to its press release dated October 12, 2017, the Company intends to extend its non-brokered private placement financing of up to 10,000,000 units (each, a “Unit”) at a price of $0.05 per Unit for gross proceeds of up to $500,000 (the “Offering”). Each Unit will consist of one common share of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant will entitle 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 closing of the Offering is expected to occur on or before December 15, 2017, and is subject to receipt of all necessary corporate and regulatory approvals, including the approval of TSX Venture Exchange.
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
For further information, please contact:
President and CEO
Tel: 1-416-293-8437 or 1-980-498-7688
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 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.