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)
 Gemdale Gold

Gemdale Gold

Gemdale Gold Inc is currently a private company focused on exploration for gold and other metals in Finland. For the past 5 years Gemdale has been building a strong presence in Finland, with a highly experienced management team and a strong portfolio of properties in Central Finland and Lapland... Keep Reading...
The American flag is draped over one and five-dollar bills featuring George Washington and Abraham Lincoln.

Perpetua Closer to Securing US Backing for Multibillion-Dollar Stibnite Project

Perpetua Resources (TSX:PPTA,NASDAQ:PPTA) moved closer to securing US government backing for its Stibnite gold and antimony project in Idaho after the Export-Import Bank advanced a proposed US$2.7 billion loan to Congress for review.The proposed package includes a direct loan of about US$2.2... Keep Reading...
Gold Runner Exploration Announces Closing of Upsized Institutionally Supported Non-Brokered Private Placement Financing of Flow-Through Units and Charity Flow Through Units for $3.1 Million

Gold Runner Exploration Announces Closing of Upsized Institutionally Supported Non-Brokered Private Placement Financing of Flow-Through Units and Charity Flow Through Units for $3.1 Million

Gold Runner Exploration Inc. (CSE: GRUN) (FSE: CE70) ("Gold Runner" or the "Company") is pleased to announce that, further to its press releases dated March 10, 2026 and March 23, 2026, and due to strong demand, the Company has closed its institutionally supported, non-brokered private placement... Keep Reading...
Steve Barton: Gold, Silver, Uranium, Oil — Price Targets, Key Levels

Steve Barton: Gold, Silver, Uranium, Oil — Price Targets, Key Levels

Steve Barton, host of In It To Win It, shares his current strategy, saying he's looking to take profits in oil stocks and rotate into the gold, silver and uranium sectors. "We've had an amazing selloff — nothing with the fundamentals has changed with gold other than it's gotten better, it's... Keep Reading...
Alice Queen founder and Managing Director Andy Buxton.

Alice Queen: Trenching Results at Viani Gold Project Emulate Drilling Results “Almost Perfectly”

In a recent update, Alice Queen (ASX:AQX) founder and Managing Director Andy Buxton shared that exploration continues at the company's Viani gold project in Fiji.“Trenching results emulate the drilling results almost perfectly, with peaks of 20 grams per tonne gold. (The) gold-to-silver ratio is... Keep Reading...
Peruvian Metals Closes Second and Final Tranche of Private Placement

Peruvian Metals Closes Second and Final Tranche of Private Placement

Peruvian Metals Corp (TSXV: PER,OTC:DUVNF) ("Peruvian Metals" or the "Company") is pleased to announce the closing of the second and final tranche of its non-brokered private placement (the "Offering") previously announced on March 12, 13, and 26, 2026. Pursuant to this second tranche of the... Keep Reading...

Interactive Chart

Latest Press Releases

Related News