Private Placement

(TheNewswire)

May 24, 2024 TheNewswire London, Ontario Peloton Minerals Corporation ("PMC" or the "Company") (CSE Symbol: PMC; OTCQB Symbol: PMCCF) intends to close a private placement of units priced at CDN$0.09 per unit for minimum total proceeds of $600,000. Each unit consists of one common share and one common share purchase warrant exercisable for three years at $0.12. The proceeds of the Private Placement will be used for lithium exploration in northern Nevada and working capital.

The Private Placement will be conducted in reliance upon certain prospectus exemptions, including the exemption allowing issuers to raise capital by distributing securities to existing shareholders (the "Existing Shareholder Exemption") contained in OSC Rule 45-501 (2.9) and the various corresponding blanket orders and rules of participating jurisdictions (with the exception of Newfoundland and Labrador) as well as other available prospectus exemptions, including sales to accredited investors and close personal friends and business associates of directors and officers of the Company. The Company has set May 24, 2024, as the record date for the purpose of determining existing shareholders entitled to purchase Shares pursuant to the Existing Shareholder Exemption.

The securities issued in connection with the Private Placement are subject to a hold period expiring four months and one day from the issuance of the securities.

For further information please contact:

Edward (Ted) Ellwood, MBA

President & CEO 1-519-964-2836

Peloton Minerals Corporation is a reporting issuer in good standing in the Provinces of British Columbia and Ontario whose common shares are listed on the CSE (Symbol: PMC) and trade in the U.S. on the OTC QB (Symbol: PMCCF) . There are 125,237,398 common shares issued and outstanding in the capital of the Company before the closing of the placement described above.

Peloton's exploration portfolio includes the North Elko Lithium Project, as well as a gold exploration project on the Carlin Trend, Nevada, a past producing gold project in Montana under option to a JV partner, and a non-controlling interest in a copper porphyry project near Butte, Montana.

CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding an outlook.

Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company's securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.

Copyright (c) 2024 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

PMC:CNX
The Conversation (0)
Gold nuggets with text: "5 Top Australian Mining Stocks This Week."

Top 5 Australian Mining Stocks This Week: Vertex Minerals Shines on Gold Mine Update

Welcome to the Investing News Network's weekly round-up of the top-performing mining stocks on the ASX.Companies focused on gold, copper and rare earths landed in the top five this week, with gold miner Vertex Minerals taking the top spot.Read on to discover this week's top gaining Australian... Keep Reading...
iMetal Resources Confirms Private Placement Is Fully Subscribed

iMetal Resources Confirms Private Placement Is Fully Subscribed

iMetal Resources, Inc. (TSXV: IMR,OTC:IMRFF) (OTCQB: IMRFF) (FSE: A7VA) ("iMetal" or the "Company") confirms that its previously announced non-brokered private placement (the "Offering") is now fully subscribed. The Offering consists of 30,000,000 Units (each, a "Unit"), at a price of $0.10 per... Keep Reading...
McFarlane Lake Announces Proposed Strategic Investment in iMetal Resources, Inc.

McFarlane Lake Announces Proposed Strategic Investment in iMetal Resources, Inc.

McFarlane Lake Mining Limited ("McFarlane" or the "Company") (CSE: MLM, OTC: MLMLF, FRA: W2Z) is pleased to announce that it has entered into a subscription agreement (the "Subscription Agreement") with iMetal Resources, Inc. (TSXV: IMR,OTC:IMRFF, OTC: IMRFF, FRA: A7VA) ("iMetal"), a... Keep Reading...
Gold bars with financial chart overlay, showcasing market trends.

Gold Producers Offset Price Decline With Strong Q2 Output

Top gold producers have maintained stable balance sheets in Q2 despite gold prices dropping nearly 15 percent in the second quarter of 2026.Following an early April peak of US$4,840 per ounce, the yellow metal entered a steep decline. Bullion broke below the US$4,000 support level in late June,... Keep Reading...
Corazon Mining (ASX:CZN)

Corazon Extends Footprint AcrossChalice Greenstone Belt

Corazon Mining Limited (ASX: CZN) (‘Corazon’ or ‘Company’) is pleased to announce it has entered into a binding Heads of Agreement (“Agreement”) with Dynamic Metals Limited (ASX: DYM) (“Dynamic Metals” or the “Vendor”) to secure tenure and gold rights immediately along strike from its recently... Keep Reading...
Broad High-Grade intercepts returned from Kingfisher, Hawk and Swan RC Drilling

Broad High-Grade intercepts returned from Kingfisher, Hawk and Swan RC Drilling

Horizon Gold Limited (ASX: HRN) (‘Horizon’ or ‘the Company’) is pleased to announce numerous significant gold intercepts returned from RC drilling at its 100% owned Gum Creek Gold Project (‘Gum Creek’ or ‘the Project’) located in the Mid-West Region of Western Australia. Final assay results for... Keep Reading...

Interactive Chart

Latest Press Releases

Related News