Vancouver, British Columbia--(Newsfile Corp. - June 21, 2019) - Pan Global Resources Inc. (TSXV: PGZ) (OTC: PGNRF) (the "Company") is pleased to announce that the nominees listed in the management proxy circular for the 2019 Annual General & Special Meeting of Shareholders ("Annual Meeting") were unanimously elected as directors of the Company:
At the Annual Meeting, Davidson & Company LLP were re-appointed as auditor of the Company at remuneration to be fixed by the directors. The Company's rolling 10% Stock Option Plan was re-approved by a majority of over 99% of the votes cast at the Annual Meeting.
Private Placement Financing
The Company also announced it has arranged a non-brokered private placement financing of up to 15,000,000 units (the "Units") of securities at a price of $0.10 per Unit for aggregate gross proceeds of up to $1,500,000.00 (the "Offering"). Each Unit will be comprised of one (1) common share and one (1) non-transferable common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of $0.20 for two (2) years from closing of the Offering.
Finders' fees of cash and Units may be payable on a portion of the Offering.
The net proceeds of the private placement will be used to fund the Company's continuing exploration program on the Company's Águilas Project and the Company's Escacena Project in Andalucia, Spain, and for working capital.
Completion of the private placement is subject to the approval of the TSX Venture Exchange.
About Pan Global Resources
Pan Global Resources Inc. is actively engaged in base and precious metal exploration in Spain and is pursuing opportunities from exploration through to mine development. The company is committed to operating safely and with respect to the communities and environment where we operate.
On behalf of the Board of Directors
FOR FURTHER INFORMATION PLEASE CONTACT:
Statements which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
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