Puma Exploration Secures $668,500 in Latest Financing Round

Puma Exploration Secures Significant Funding

In a noteworthy development, Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) is thrilled to announce the conclusion of a non-brokered financing round, successfully raising C$668,500. This financial boost, comprising of 6,685,000 flow-through units, illustrates the growing confidence in Puma's mining endeavors.

Details of the Financing

Each flow-through unit was priced at $0.10, and it includes one flow-through share alongside one common share purchase warrant, commonly referred to as a Warrant. The exciting part? These Warrants provide holders the opportunity to purchase additional common shares at a price of $0.15, valid for a period of two years, offering a great incentive to investors.

Acceleration Clause and Terms

The Warrants come with a stipulation that allows for an acceleration clause. This means Puma can notify holders if the closing stock price remains above $0.25 for 30 consecutive trading days. In such a case, the holders will have 30 days from receiving this notice to exercise their Warrants. This clause is designed to maintain shareholder engagement and encourage further investment.

Utilization of Funds for Exploration

The funds obtained from this financing will be utilized to cover eligible Canadian exploration expenses as set forth in the Income Tax Act (Canada). Specifically, these funds will drive the exploration initiatives surrounding the newly acquired McKenzie Gold Project, alongside other valuable assets in northern New Brunswick. This is an important step towards advancing Puma's exploration capacity and potential discoveries in this rich mineral exploration region.

Finder's Fees and Participation from Insiders

In line with the closing, Puma Exploration acknowledged an aggregate cash finder's fee of $39,445, in addition to issuing 394,450 non-transferable finder Warrants, with identical terms to the Warrants in the units. Participation reflects confidence, as certain directors and insiders subscribed to 350,000 FT Units for a total of $35,000. This involvement aligns perfectly with regulatory requirements, indicating a strong commitment to the Company’s development.

Exploration Undertakings in New Brunswick

Puma Exploration boasts a remarkable suite of gold land holdings strategically positioned around key infrastructure in Northern New Brunswick. Notable projects, such as the Williams Brook and McKenzie Gold Projects, lie nearby the influential Rocky Brook Millstream Fault, a critical geological feature influencing gold deposition in the area.

Commitment to Sustainable Practices

Not only is Puma focused on successful mining operations, but it also advocates for sustainable exploration practices. This is evident in its DEAR business model—Discovery, Exploration, Acquisition, and Royalties—which seeks to maximize value for shareholders while minimizing share dilution. Puma’s combined approach of innovative prospecting techniques and advanced technology, including Artificial Intelligence, has significantly advanced the understanding of the local geology and its resources.

Leadership and Future Goals

The preparation and oversight of this financial information was guided by President Marcel Robillard, emphasizing the Company's strategic planning in navigating its exploration initiatives. As Puma Exploration continues to advance its projects, it aims to solidify its presence in the mineral exploration landscape of New Brunswick.

Frequently Asked Questions

What was the amount raised in Puma's recent financing?

Puma raised C$668,500 through the sale of flow-through units.

What are the key terms of the Warrants associated with the financing?

The Warrants allow holders to purchase common shares at $0.15 for a period of 24 months.

How will Puma use the funds acquired from this financing?

The funds will be allocated to exploration expenses, especially for the McKenzie Gold Project and other northern New Brunswick assets.

Who participated in the financing?

Certain directors and insiders of Puma Exploration participated, purchasing an aggregate of 350,000 FT Units.

What is Puma Exploration's business model?

Puma focuses on a DEAR model—Discovery, Exploration, Acquisition, and Royalties—to enhance shareholder value efficiently.

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