23:10:40 EDT Tue 04 Oct 2022
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or Name
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Puma Exploration Inc (2)
Symbol PUMA
Shares Issued 86,090,536
Close 2021-12-01 C$ 0.395
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Puma Exploration arranges $5-million private placement

2021-12-01 10:16 ET - News Release

Mr. Marcel Robillard reports

PUMA EXPLORATION ARRANGES $5,000,000 PRIVATE PLACEMENT

Puma Exploration Inc. has entered into an agreement with Desjardins Capital Markets, under which the agent has agreed to sell, on a marketed private placement basis, up to 10 million flow-through common shares of the company at a price of 50 cents per flow-through share for total gross proceeds of up to $5-million.

The gross proceeds of the flow-through shares sold under the offering will be used to explore Puma's Williams Brook gold project located in New Brunswick. The company agrees that an amount equal to the gross proceeds received by the company will be used to incur Canadian Exploration Expenses (CEE) which will qualify as flow-through mining expenditures (each as defined in the Income Tax Act (Canada) and referred to as a qualifying expenditures) related to the exploration program of the company. The company will renounce such qualifying expenditures with an effective date of no later than Dec. 31, 2021.

The flow-through shares will be offered for sale by the agent in each of the provinces and territories of Canada. Closing is expected to occur on or about Dec. 15, 2021, or other such date as the company and the agent may agree. Closing of the offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. The flow-through shares sold under the offering will be subject to a four-month hold period under applicable securities law in Canada.

Appointment of Mia Boiridy as head of investors relations (IR) and corporate development

The company is also pleased to announce that Mia Boiridy, BSc geology (honours), MSc geochemistry, has joined Puma as head of investor relations and corporate development. Ms. Boiridy is a seasoned executive with a focus on the junior resource sector for the last eight years. She led IR and corporate development for several Canadian junior exploration companies and was recently, president and chief executive officer (CEO) of MacDonald Mines, a junior exploration company based in Toronto, Ont.

She will be responsible for the communication and marketing activities of the company, the development and growth of relationships with stakeholders and the primary point of contact for investors, analysts and the media.

"We are pleased to welcome Mia to the Puma team. She brings a wealth of experience and skills that will be instrumental as we continue to build our Williams Brook project. Communication to shareholders and communities is key, and with the recent success and progress it was time to have someone dedicated to this very important task," notes Marcel Robillard, president and CEO of Puma Exploration.

Grant of options

Pursuant to its stock option plan and subject to regulatory acceptance, Puma has granted an aggregate total of one million incentive stock options to certain directors, advisers and consultants of the company, vesting immediately. These options will be exercisable at a price of 40 cents per common share and will expire on Dec. 1, 2023.

About Puma Exploration Inc.

Puma Exploration is a Canadian-based mineral exploration company with precious and base metals projects in early to advanced stages located in the famous Bathurst mining camp (BMC) in New Brunswick, Canada. Great efforts will be made by the company in the coming years to deploy its DEAR strategy (development, exploration, acquisition and royalties) in order to generate maximum value for shareholders with low share dilution.

We seek Safe Harbor.

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