Peruvian Metals Closes Second Tranche of Private Placement
Peruvian Metals has announced the closing of the second tranche of its non-brokered private placement, raising $50,050 through the issuance of 715,000 Units at $0.07 per Unit. Each Unit includes one common share and one-half non-transferable share purchase warrant, which can be exercised at $0.10 per share within two years. The total offering aims to raise up to $560,000 for developing the Mercedes and Palta Dorada properties and general working capital. No finders' fees were issued for this tranche, and all securities are subject to resale restrictions until September 29, 2024. Regulatory approvals, including from the TSX Venture Exchange, are pending.
- Raised $50,050 in second tranche, contributing to the goal of $560,000.
- Units priced at $0.07 each, potentially attracting new investors.
- Funds allocated for development of Mercedes and Palta Dorada properties and working capital, indicating focused business growth.
- No finders' fees or warrants issued, potentially saving costs.
- Completion of the offering and issuance of units are pending regulatory approvals, including from the TSX Venture Exchange.
- Resale restrictions on securities until September 29, 2024, which could limit liquidity.
Edmonton, Alberta--(Newsfile Corp. - May 30, 2024) - Peruvian Metals Corp. (TSXV: PER) (OTCQB: DUVNF) ("Peruvian Metals" or the "Company") is pleased to announce that it has, subject to regulatory approvals, closed a second tranche of its non-brokered private placement (the "Offering") of up to 8,000,000 units (the "Units") at
No finders' fees or finders warrants were issued in this tranche of the Offering. All the securities issued will be subject to resale restrictions until September 29, 2024. The net proceeds of the Offering will be used to develop the recently acquired Mercedes property, the Company's existing Palta Dorada property, and for general working capital requirements.
The completion of the Offering, including all issuances of Units, remains subject to certain regulatory approvals, including the approval of the TSX Venture Exchange.
About Peruvian Metals Corp.
Peruvian Metals Corp. is a Canadian Exploration and Mineral Processing company. Our business model is to provide toll milling services for clients and to produce high grade sulphide concentrates from mineral purchases. The Company continues to acquire and develop precious and base metal properties in Peru.
For further information on Peruvian Metals Corp. please visit www.peruvianmetals.com.
Peruvian Metals Corp. is a Canadian resource company listed on the
TSX Venture Exchange: Symbol "PER", and the OTCQB Venture Market: Symbol "DUVNF".
For additional information, contact: Jeffrey Reeder Tel: (647) 302-3290
Website: www.peruvianmetals.com Email: jeffrey.reeder@peruvianmetals.com
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.
Disclosure Regarding Forward-Looking Statements: This press release contains certain "Forward-Looking Statements" within the meaning of applicable securities legislation. We use words such as "might", "will", "should", "anticipate", "plan", "expect", "believe", "estimate", "forecast" and similar terminology to identify forward-looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions, and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedarplus.ca.While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward-looking statements and forward-looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/211105
FAQ
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