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July 13, 2012 15:52 ET
Puma Exploration Closes Private Placements for $1,988,830
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RIMOUSKI, QU�BEC--(Marketwire - July 13, 2012) - Puma Exploration (TSX VENTURE:PUM) is pleased to announce that it has closed a non-brokered private placement financing of flow-through units with an institutional fund. The Company issued 2,500,000 units at an issue price of $0.30 per flow-through unit for gross proceeds of $750,000. The flow-through units are comprised of one flow-through common share and one-half of one common share purchase warrant. Each full warrant will entitle its holder to acquire one additional common share of Puma at a price of $0.40 for 24 months.
In connection with this flow-through Private Placement, the Company has paid cash finder's fees to Meadowbank Asset Management in an amount of $60,000 and issued 200,000 finder's warrants will entitle holder to acquire one additional common share of Puma at a price of $0.30 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. The placement has received the conditional approval of the TSX Venture Exchange.
The proceeds of the Offering will be used for the exploration and development of Puma's properties in New Brunswick and Manitoba. Since June 2012, Puma raised a total of $1,988,830 with institutions and accredited investors to accelerate the exploration on its flagship Nicholas-Denys Silver property and also on his other properties.
About Puma Exploration
Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. The Company's major assets are the Nicholas-Denys Silver Project and Turgeon Copper Project in New Brunswick and the Little Stull Lake Gold Project in Manitoba. Puma is actually focusing its exploration efforts in New Brunswick, Canada, which has been ranked the best place in the world to conduct mining exploration by the 2012 Fraser Institute Survey. New players such as Trevali Mining Corporation which has initiated production at the Halfmile Mine and Votorantim and which is developing the Murray Brook Deposit are now very active in the area.
Learn more by clicking here: www.pumaexploration.com
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Investor Relations: 1-800-321-8564 Learn more by clicking here: www.pumaexploration.com
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Puma Exploration Inc. 212, Avenue de la Cath�drale, Rimouski, QC, G5L 5J2, T. 418-724-0901 � 2011 All Rights Reserved | |
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Puma Exploration Inc.
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EXPLORATION STAGE |
CODE : PUM.V |
ISIN : CA74588S1039 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Puma Exploration is a zinc and lead exploration company based in Canada. Puma Exploration holds various exploration projects in Canada. Its main exploration properties are LITTLE STULL LAKE, TURGEON and NICHOLAS-DENYS in Canada. Puma Exploration is listed in Canada. Its market capitalisation is CA$ 15.7 millions as of today (US$ 12.6 millions, € 10.3 millions). Its stock quote reached its highest recent level on December 07, 2007 at CA$ 0.59, and its lowest recent point on January 22, 2016 at CA$ 0.03. Puma Exploration has 184 380 000 shares outstanding. |