it is arranging a non-brokered private placement to raise gross proceeds of up to $600,000 . The placement will consist of up to 20,000,000 units with each Unit comprising one common share in the capital of the Company and one-half share purchase warrant , whereby each whole Warrant shall be convertible into an additional Share at an exercise price of $0.05 for a period of 24 months from the date of issuance.
The net proceeds raised from the Offering will be used for the preparation of summer drilling at the Argosy Gold Mine and North Birch Project, new project evaluations and general working capital. Pinnacle is also actively looking for other district-scale opportunities in the Americas, with a particular focus on silver and gold. With a seasoned, highly successful management team and quality projects, Pinnacle Silver and Gold is committed to building long term, sustainable value for shareholders.
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Company Announces Private Placement Offering for Further ExplorationThe company has announced a private placement offering to raise funds for further exploration and general working capital purposes. The securities issued in connection with the offering are subject to a hold period under Canadian securities laws.
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