Mr. Layton Croft reports
PANCONTINENTAL CHANGES NAME TO REFLECT NEWLY ACQUIRED BATTERY METALS PROJECTS STRATEGY
Pancontinental Gold Corp. has changed its name to Pancontinental Resources Corp. The company anticipates that shares will be trading under the new name on the TSX Venture Exchange on July 13, 2018, and its trading symbol will remain unchanged.
"As we continue to execute our strategy to expand our portfolio and increase our presence in the growing battery metals space, the name gold does not sufficiently reflect the diversity of our current exploration and development projects," said Layton Croft, president and chief executive officer. "We are focused on developing our nickel-cobalt-copper projects in Ontario in order to meet growing demand for high-quality, long-lasting rechargeable batteries for electric vehicles and other products poised to dominate the clean energy global economy."
The global fleet of electric vehicles is likely to more than triple to 13 million by the end of the decade from 3.7 million last year, according to a report released by the International Energy Agency. Demand for batteries is expected to rise by a factor of 15 by 2030, largely driven by light-duty vehicles such as cars and vans. China's burgeoning market is expected to make up half of the world's demand, followed by Europe, India and the United States.
In connection with the company's rebranding, Pancon has entered into a consulting agreement with Jeanny So and Jeanny So Consulting. Ms. So is a seasoned investor relations and corporate development professional with over 15 years of global investor relations, public relations, corporate affairs, corporate development and communications experience in the natural resource sector. Ms. So has strong key relationships in the financial and mining industry sectors and will assist Pancon's management in building and developing its profile, as well as develop an investor relations plan and assist management with its internal investor relations duties.
Effective July 1, 2018, the agreement has an initial term of 12 months, wherein the company will pay the consultant a fee of $5,000 per month. In addition, the consultant shall be granted 100,000 stock options to purchase common shares at eight cents per share. The options will vest in instalments of 25,000 options per quarter, with the first instalment vesting on Sept. 30, 2018. The appointment of the consultant and the option grants are subject to acceptance of the TSX Venture Exchange.
About Pancontinental Gold Corp.
Pancon is a Canadian-based mining company focused on the exploration and development of its McBride nickel-cobalt-copper project in Ontario, Canada; its Montcalm West nickel-cobalt-copper project in Ontario, Canada; and its 100-per-cent-owned Jefferson gold project in South Carolina.
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