00:04:10 EDT Tue 19 Mar 2024
Enter Symbol
or Name
USA
CA



Pan Global Resources Inc
Symbol PGZ
Shares Issued 81,555,387
Close 2018-04-24 C$ 0.20
Market Cap C$ 16,311,077
Recent Sedar Documents

Pan Global exercises option to acquire 70% of Minera

2018-04-24 13:17 ET - News Release

Mr. Tim Moody reports

PAN GLOBAL EXERCISES OPTION ON AGUILAS PROJECT IN SPAIN

Pan Global Resources Inc. has exercised its option to acquire an undivided 70-per-cent equity interest in Minera Aguila SL, a Spanish company which has been granted two mineral exploration licences covering an area of 9,946 hectares, and has applied for the issuance of an additional seven mineral exploration licences covering an area of 6,420 hectares, in the provinces of Cordoba and Ciudad Real, Kingdom of Spain. Pan Global directors Bob Baxter and Bob Parsons will join chief executive officer Tim Moody on the board of directors of Minera Aguila SL.

The company paid the vendor, Mr. Moody, the sum of $50,000 and issued 2.2 million common shares to exercise the option. The company also incurred exploration expenditures in excess of $250,000 on the licence areas, and reimbursed the vendor all costs incurred and paid by the vendor to acquire the mineral rights.

The company has a further option to acquire the remaining undivided 30-per-cent equity interest from the vendor by paying an additional $400,000, issuing an additional 2.5 million common shares and incurring not less than $1-million (cumulative) in exploration expenditures over the period ending March 7, 2020.

The company considers the exercise of the option to acquire the equity in Minera Aguila SL a positive acknowledgment of the mineral potential in the properties. Further updates on exploration progress will be issued soon.

About Pan Global Resources Inc.

Pan Global Resources is actively engaged in base and precious metal exploration in Spain, and is pursuing opportunities from exploration through to mine development. The company has committed to operating safely and with respect to the communities and environment where it operates.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.