Puma Exploration Raises $922,200 in Non-Brokered Private Placement

Puma Exploration Raises $922,200 in Non-Brokered Private Placement

 

Puma Exploration Inc. (TSXV: PUMA, OTC: PUXPF), (the "Company" or "Puma") is pleased to announce that, further to the closing of its brokered C$5M private placement announced on December 17, 2021, it has closed a non-brokered private placement ("the Offering") of hard dollar units (the "Units") for total gross proceeds of C$922,200. As part of the Offering, the Company issued 2,305,500 Units at the price of C$0.40 per Unit, with each Unit comprising one common share and one-half common share purchase warrant. Each warrant entitles the holder to acquire one common share of the Company at C$0.65 per share until December 30, 2023.

 

Two (2) Insiders of the Company acquired a total of 70,500 Units in the Offering (the "Insider Participation"), which is considered a related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(b) and 5.7(1)(a), respectively, of MI 61-101 in respect of such Insider Participation.

 

In consideration of their services, Finders received a cash commission of $17,570 and were issued 26,425 non-transferable compensation warrants. Each compensation warrant is exercisable into one common share of the Company for $0.40 for 24 months from the date of closing of the Offering.

 

The net proceeds from this Offering will be used for general working capital purposes. The Offering is subject to regulatory approvals, including the approval of the TSX Venture Exchange (the "TSXV"). All securities issued and issuable in the Offering are subject to a hold period of four months and one day from closing.

 

Following the holiday break, Puma's technical team will be back on site in early January to finalize preparations for its fully-funded 10,000-metres drilling program on the Williams Brook property. The Company's proposed 2022 exploration strategy and program are outlined in its December 21, 2021 news release.

 

  ABOUT Puma Exploration  
Puma Exploration is a Canadian-based mineral exploration company with precious metals projects in early to advanced stages located in the Famous Bathurst Mining Camp (BMC) in New Brunswick, Canada. The Company is committed to its DEAR strategy (Development, Exploration, Acquisition and Royalties) to generate maximum value for shareholders with low share-dilution.

 

Connect with us on Facebook / Twitter / LinkedIn  
Visit www.explorationpuma.com for more information or contact:

 

  Marcel Robillard ,
President, (418) 750-8510;
president@explorationpuma.com

 

  Mia Boiridy ,
Head of Investor Relations and Corporate Development, (250)575-3305;
mboiridy@explorationpuma.com.

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

 

  Forward-Looking Statements: This press release may contain forward-looking statements. Such forward-looking statements involve several known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Puma to be materially different from actual future results and achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made, except as required by law. Puma undertakes no obligation to publicly update or revise any forward-looking statements. These risks and uncertainties are described in the quarterly and annual reports and in the documents submitted to the securities administration.  

 

  Primary Logo 

 

News Provided by GlobeNewswire via QuoteMedia

PUMA:CA
The Conversation (0)
Puma Increases the High-Grade Gold Footprint of the Lynx Gold Zone and Extends it at Depth

Puma Increases the High-Grade Gold Footprint of the Lynx Gold Zone and Extends it at Depth

 
  • Hole WB23-139 intersected 63.05 m at 2.49 g/t gold, including two (2) high-grade gold intervals of 37.40 g/t gold over 2.50 m and 21.66 g/t gold over 2.55 m .
  •  
  •   2.06 g/t gold over 5.20 m was intercepted at 215 m downhole (WB23-139)- the deepest occurrence of gold to date.
  •  
  • Lower-grade gold envelopes of 0.49 g/t to 0.67 g/t gold over 22.80 to 30.95 m surround the higher-grade gold shoots.
  •  
  • The Moose area shows consistent gold mineralization at surface with hole WB23-136 grading 30.90 m of 1.10 g/t gold .
  •  
  • Drill core samples with visible gold ("VG") returned 137.0 g/t gold over 0.60 m (WB23-139), 96.0 g/t gold over 0.45 m (WB23-139), 63.6 g/t gold over 0.30 m (WB23-136), 16.85 g/t gold over 0.79 m (WB23-137).
  •  

Puma Exploration Inc. (TSX-V: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to announce the results of another seven (7) holes of its 2023 drilling program at its 100%-owned Williams Brook Gold Project with high grades intercepts and long gold mineralized sections.

 

Hole WB23-139 intersected two (2) high-grade gold intervals of 37.40 g/t gold over 2.50 m and 21.66 g/t gold over 2.55 m (Figure 1) within a 63.05 m intercept grading 2.49 g/t gold from 89.95 to 153.00 m. The same hole intersected another gold intersection of 2.06 g/t gold   over 5.20 m at 215 m downhole depth. With these new gold intersections, the Lynx Gold Zone ("LGZ") has been extended to approximately 150 m vertical depth (Figure 2), further highlighting the potential for significant depth extension.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Puma Exploration Samples 362 g/t Gold at Newly Optioned TIMM Gold Property

Puma Exploration Samples 362 g/t Gold at Newly Optioned TIMM Gold Property

 
  •   Strategic gold property located along national road, only 10km from St-Quentin and 25km west of Williams Brook Flagship property.
  •  
  •   High-grade gold structure, with initial surface sampling up to 362 g/t gold*.  
  •  
  • Mineralization hosted in similar quartz veins within sedimentary package.
  •  
  •   Similar depositional gold environment as Williams Brook Gold property.
  •  

Puma Exploration Inc. (TSX-V: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to announce that it has entered into a property agreement to strategically increase its substantial gold landholdings at the Williams Brook Gold Project (Figure 1). The newly optioned TIMM Gold Property, with grab samples* grading up to 267 gt gold and 362 gt gold (Table 1), marks another step towards Puma's development of a major gold camp in Northern New Brunswick.

 

Figure 1: Puma's assets and landholdings in Northern New Brunswick

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Puma Exploration Drills Series of Stacked High-Grade Gold Quartz Veins at Williams Brook

Puma Exploration Drills Series of Stacked High-Grade Gold Quartz Veins at Williams Brook

 
  • Hole WB23-125 returned 50.85 m of 1.05 g/t gold.  
  •  
  • Gold mineralization extends over 90 m from surface in a series of stacked high-grade   quartz veins.  
  •  
  • All 11 holes intersected the targeted quartz veins, with assay results returning from anomalous gold (0.10 g/t) to 42.60 g/t.
  •  
  • Gold was intercepted at depth in areas never drilled before.
  •  
  • Results confirm the continuity of gold mineralization at the Lynx Gold Zone.
  •  
  • Assay results for 13 additional holes (2,200 m), including 47 samples containing VG are still pending  
  •  

Puma Exploration Inc. (TSX-V: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to announce the results for the first eleven (11) holes of its 2023 drilling program at its 100%-owned Williams Brook Gold Project in Northern New Brunswick. These holes were first reported on August 2, 2023, and are not part of the series that returned more than 100 specks of visible gold ("VG") on initial inspection. Notwithstanding, seven (7) of the 11 holes reported today returned significant gold, with four (4) holes intersecting multiple mineralized high-grade gold quartz veins (Table 1). Hole WB23-125 intersected fifteen (15) separate quartz veins and returned 90 m of 0.70 gt gold from surface (at 2.90 m) with an impressive 50.85 m of 1.05 gt gold starting at 42 m depth, including a 4.50 m interval of 6.46 gt gold at 75 m depth.

 

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Puma Exploration Defines Drilling Targets for Lynx Gold Zone Lateral Extension

Puma Exploration Defines Drilling Targets for Lynx Gold Zone Lateral Extension

 

Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to outline the ongoing progress of its 2023 exploration program at its 100%-owned Williams Brook Gold Project in Northern New Brunswick, Atlantic Canada. The program has successfully shown that gold mineralization extends to 150 m vertical depth at the Lynx Gold Zone ("LGZ") following Phase 1 drilling ( see August 23, 2023, News Release ). With assay results pending, the Company is now focused on demonstrating the continuity of gold mineralization along the 4 km extension of the Lynx Gold Trend ("LGT") to increase the total gold inventory of the 44,000-ha land package.

 

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Puma Exploration Welcomes Jean-David Moore to its Advisory Board

Puma Exploration Welcomes Jean-David Moore to its Advisory Board

 

Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to announce the appointment of Mr. Jean-David Moore to the Company's Advisory Board. Mr. Moore has been a consultant and advisor to several mineral exploration and development companies for over fifteen years.

 

" Jean-David will be a valuable asset to Puma's Advisory Board, bringing his extensive industry experience and knowledge.   He has developed a strong relationship network with his significant holdings in several mineral exploration companies. As a major shareholder of Puma, he will be a trusted ally and champion as we continue to develop our Williams Brook Gold Project. This appointment reflects Puma's continued commitment to building a team focused on creating value for shareholders ", stated Marcel Robillard, President and CEO of Puma.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Bert Dohmen

Bert Dohmen: Gold, Silver Key as Stock Market Bull Trap Looms

Bert Dohmen, founder and CEO of Dohmen Capital Research, sees physical gold and silver as key safe havens as a potential bull trap in the broad stock market plays out.

"We said we're probably going to go to a new high in a major, widely watched index like the S&P 500 (INDEXSP:.INX). It's going to be by a small amount a new high, and that's going to close the bull trap," he said.

Keep reading...Show less
Gold bars on financial charts and a notebook.

Top 5 ASX Gold Stocks of 2025

Gold continued to perform well through the second quarter of 2025, reaching a new all-time high of AU$5,425 per ounce on April 22.

The price surge has occurred amid volatile equity and financial markets since the start of the year, driven by concerns over a global trade war and escalating geopolitical tensions in the Middle East.

The rising gold price has also been supported by uncertainty over a looming debt crisis in the United States. Some investors have turned away from dollar-denominated haven assets, such as US Treasuries, in favour of precious metals like gold.

Keep reading...Show less
Gold nugget displayed on an antique balance scale with a dark background.

Meeka Metals Reports First Gold Pour at Murchison Project

Meeka Metals (ASX:MEK) has poured the first gold at its flagship Murchison project in Western Australia.

The pour happened on Tuesday (July 1), and in a Wednesday (July 2) press release, the company said the project’s production is in line with schedule, happening within 12 months of breaking ground.

Murchison sits near several multimillion-ounce gold mines and hosts a large, high-grade resource of 1.2 million ounces at 3 grams per tonne (g/t) gold on granted mining leases.

Keep reading...Show less
Sun Summit Minerals (TSXV:SMN)

Sun Summit Minerals

Keep reading...Show less

Latest Press Releases

Related News

×