FOR IMMEDIATE RELEASE
April 20 2012
April 20th, 2012, Vancouver, British Columbia � Premium Exploration Inc. (TSXV: PEM; OTCQX: PMMEF) (�Premium� or the �Company�) is pleased to announce that it has completed a non-brokered private placement (the �Private Placement�) raising gross proceeds of $633,706.00 through the sale and issuance of 4,224,706 units (the �Units�) of the Company at a price of $0.15 per Unit pursuant to a Price Reservation form filed with the TSX Venture Exchange dated March 19, 2012.
Each Unit is comprised of one common share (�Common Share�) of the Company and one-half common share purchase warrant (a �Warrant�). Each whole Warrant entitles the holder to purchase one Common Share at a price of $0.25 per Common Share for a period of 24 months from the date of issuance. In connection with the Private Placement, a total of $30,350 was paid as finder�s fees cash commissions.
The securities issued in connection with the Private Placement are subject to: final acceptance from the TSX Venture Exchange; and a statutory four month hold period expiring on August 20, 2012, during which time the securities may not be traded. Net proceeds of the Private Placement will be used to fund exploration and development of the Company�s mineral properties, as additional working capital and for general and administrative corporate purposes.
About Premium Exploration Inc.
Premium is focused on gold exploration at its district-sized land package along the Orogrande Shear Zone (the �OSZ�) in North-Central Idaho, USA. The OSZ is a 30+ km regionally significant trending structure with multiple know zones of gold mineralization and, similar to many large gold belts, like the Carlin Trend in Nevada. Armed with a proven exploration strategy, 30 km of drill-ready targets, Premium is well positioned to create shareholder value through the exploration and development of this emerging gold district. For additional information, please visit us at www.premiumexploration.com.
For more information, please contact:
Mr. Del Steiner, JD.
President
Premium Exploration Inc.
(604) 682-0243
(604) 682-2499
e: dsteiner@premiumexploration.com
w: www.premiumexploration.com
Ms. Christine Kopr
Corporate Communications
Opes Capital Inc.
(604) 992-1831
e: ckopr@opescapitalinc.com
www.opescapitalinc.com
�Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
This press release contains certain �Forward-Looking Statements� within the meaning of Section 21E of the United States Security Exchange Act of 1934, and involves a number of risks and uncertainties. Important factors that could cause actual results to differ materially from the Company�s expectations are disclosed in the Company�s documents filed from time to time with the TSX Venture Exchange and the British Columbia Securities Commission. All statements, other than of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Neither the 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.
Copyright � 2011 Premium Exploration, Inc. � All rights reserved.
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Premium Exploration Inc.
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EXPLORATION STAGE |
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CODE : PEM.V |
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ISIN : CA74060R4098 |
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Premium Expl. is a gold and palladium exploration company based in Canada. Premium Expl. holds various exploration projects in Mexico. Its main exploration properties are CHROME MOUNTAIN, BUFFALO GULCH, IDAHO (FRIDAY / PETSITE / DIXIE), ROSAMORADA, LA LUPE and NUEVA GALICIA in Mexico. Premium Expl. is listed in Canada. Its market capitalisation is CA$ 844 000 as of today (US$ 642 622, € 586 264). Its stock quote reached its highest recent level on April 01, 2011 at CA$ 8.30, and its lowest recent point on April 24, 2015 at CA$ 0.01. Premium Expl. has 42 200 000 shares outstanding. |