RIMOUSKI, QUEBEC--(Marketwire -06/29/12)- Puma Exploration (PUM.V) is pleased to announce that it has closed the announced non-brokered private placement financing of flow-through units. The Company issued 2,960,599 units at an issue price of $0.30 per flow-through unit for gross proceeds of $888,180. 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.
The Company also announces the closing of a second non-brokered private placement in the amount of $100,650 to satisfy the increasing demand in Puma's first placement. The Company issued 335,500 units at an issue price of $0.30 per flow-through unit and 167,750 common share purchase warrants having the same term than the above.
In connection with these flow-through Private Placements, the Company has paid cash finder's fees in an amount of $73,454 and issued 244,847 finder's warrants having the same terms as the Units. All securities issued to purchasers and finders 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 placements have 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.
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.
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.
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.
Marcel Robillard, President
Toll free: (800) 321-8564