P2 Gold $1,665,000 debenture private placement

Mar 26, 2024

2024-03-25 19:53 ET – Private Placement – Debenture

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Feb. 13, 2024, and amended on March 1, 2024.

Convertible debenture: $1,665,000

Conversion price: convertible into common shares at seven cents per share of principal outstanding until Jan. 31, 2025 (year 1), and at 10 cents per share from Feb. 1, 2025, until Jan. 31, 2026 (year 2)

Maturity date: Jan. 31, 2026 (The company will have the option to extend the maturity date, subject to exchange approval.)

Detachable warrants: Each detachable warrant will have a term of two years from the date of issuance of the notes and entitle the holder to purchase one common share. The warrants are exercisable at the price of 15 cents.

Interest rate: 7.50 per cent per annum (Any settlement of interest in shares will be subject to exchange approval.)

Number of placees: 36 placees

Total existing insider involvement: 85 debentures ($85,000) (one insider)

Finder’s fee: $71,040 cash and 916,875 warrants

Finder’s warrant terms: Each warrant entitles the holder to purchase one common share at the price of seven cents for period of two years from the date of issuance.

The company issued news releases on March 5, 2024, March 14, 2024, and March 25, 2024, confirming the closing of the private placement. Note that in certain circumstances the exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.

https://www.p2gold.com/