Pan Global Resources Inc., an exploration and development stage company focused on the exploration and development of copper-gold assets in Peru, is pleased to announce it has arranged a non-brokered private placement of up to 10,000,000 units (Units) of Pan Global at a price of $0.10 per Unit for gross proceeds of up to $1,000,000.
Each Unit is comprised of one common share and one-half common share purchase warrant. Each full warrant is exercisable to acquire an additional common share of Pan Global at a price of $0.15 per share for a period of 18 months from the date of closing of the private placement.
The proceeds from the private placement will be used to advance Pan Global’s exploration projects in Peru, and for general working capital purposes. Any shares issued pursuant to the private placement will be subject to a four-month hold period in accordance with applicable Canadian securities legislation.
The private placement is subject to the receipt of all necessary regulatory approvals and the TSX Venture Exchange. Finder’s fees may be payable, in cash or shares, in accordance with the rules and policies of the TSX Venture Exchange and applicable securities law.
By undertaking this private placement, Pan Global is demonstrating its commitment to ensuring its projects are adequately financed to meet its exploration and development goals. The experienced management team at Pan Global has proven themselves capable of successfully exploring and developing its assets, and with this private placement the company is well positioned to continue advancing its projects.
