RIMOUSKI, QUEBEC--(Marketwire -07/13/12)- Puma Exploration (PUM.V) is pleased to announce that it has closed a non-brokered private placement financing of flow-through units with an institutional fund. The Company issued 2,500,000 units at an issue price of $0.30 per flow-through unit for gross proceeds of $750,000. The flow-through units are comprised of one flow-through common share and one-half of one common share purchase warrant. Each full warrant will entitle its holder to acquire one additional common share of Puma at a price of $0.40 for 24 months.
In connection with this flow-through Private Placement, the Company has paid cash finder's fees to Meadowbank Asset Management in an amount of $60,000 and issued 200,000 finder's warrants will entitle holder to acquire one additional common share of Puma at a price of $0.30 for 24 months. All securities issued to purchaser and finder under the Offering are subject to a four-month hold period from the date of issuance of the securities, pursuant to applicable securities legislation and the policies of the TSX Venture Exchange. The placement has received the conditional approval of the TSX Venture Exchange.
The proceeds of the Offering will be used for the exploration and development of Puma's properties in New Brunswick and Manitoba. Since June 2012, Puma raised a total of $1,988,830 with institutions and accredited investors to accelerate the exploration on its flagship Nicholas-Denys Silver property and also on his other properties.
About Puma Exploration
Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. The Company's major assets are the Nicholas-Denys Silver Project and Turgeon Copper Project in New Brunswick and the Little Stull Lake Gold Project in Manitoba. Puma is actually focusing its exploration efforts in New Brunswick, Canada, which has been ranked the best place in the world to conduct mining exploration by the 2012 Fraser Institute Survey. New players such as Trevali Mining Corporation which has initiated production at the Halfmile Mine and Votorantim and which is developing the Murray Brook Deposit are now very active in the area.
Learn more by clicking here: www.pumaexploration.com
The contents of this press release were prepared by Marcel Robillard, a Qualified Person as defined in NI 43-101. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: This press release may contain forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Puma Exploration Inc. to be materially different from actual future results and achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. Except as required by law, Puma Exploration undertakes no obligation to publicly update or revise any forward-looking statements. These risks and uncertainties are described in the quarterly and annual reports and in the documents submitted to the securities administration.
Puma Exploration Inc.
Marcel Robillard, President
Toll free: (800) 321-8564