(PA.V) Feb. 8, 2019 – Palamina Corp. has amended certain terms of its non-brokered private placement previously disclosed on Jan. 31. Pursuant to the terms of the amended offering, the company will conduct a non-brokered private placement offering of up to 7,333,333 units at a purchase price of $0.30 per unit for aggregate gross proceeds of up to $2.2 million.
Each unit consists of one common share and one warrant. Each warrant is exercisable to acquire one common share at a price of $0.50 for a period of two years from the closing date. If after four months and one day following the closing of the amended offering, the closing price of the common shares on the TSX Venture Exchange is equal to or greater than $0.90 for 10 consecutive trading days, then the company may accelerate the expiry date of the warrants by disseminating a press release, and in such case the warrants will expire on the 45th day after the date on which such a press release is disseminated.
Net proceeds of the amended offering will be used for general corporate and working capital purposes. The amended offering is subject to TSX Venture Exchange acceptance of regulatory filings. The company may pay finder’s fees to eligible persons in accordance with applicable securities laws and regulatory policies.
Palamina has acquired the application and mining rights to five gold projects in southeastern Peru in the Puno orogenic gold belt, one copper-gold project in the coastal IOCG belt in southern Peru and holds a 100 percent interest in one exploration project in Mexico.Disclaimer: ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment.