- Puma Exploration Inc. (PUMA) has announced a non-brokered private placement of $1.6 million
- The financing will be led by a strategic investment from Crescat Capital, which has agreed to invest $960,000
- Puma plans to use the proceeds from the private placement to finance its diamond drill program at the Williams Brook Gold Project
- Puma Exploration is a junior mining company focused on the acquisition, exploration, and development of mining companies in Canada
- Puma Exploration Inc. (PUMA) is up 9.09 per cent, trading at $0.36 per share
Puma Exploration Inc. (PUMA) has announced a non-brokered private placement of $1.6 million.
The financing will be led by a strategic investment from Crescat Capital, which has agreed to invest $960,000. In return, Crescat has requested the right to participate in future financings.
Puma plans to use the proceeds from the private placement to finance its diamond drill program at the Williams Brook Gold Project, increasing the program from 2,000 metres to 10,000 metres.
Kevin Smith, Crescat’s Chief Investment Officer, commented on the company’s investment in Puma.
“We are encouraged by the near-surface, high-grade gold that Puma is encountering in New Brunswick,” he said. “We are excited to infuse capital to help the company with its goal of quintupling the planned meters of drilling this season.”
The Williams Brook Gold Project is located in the Bathurst Mining Camp in New Brunswick.
So far, Puma has encountered significant gold mineralization at the O’Neil Gold Trend on the property, including 11.2 g/t over 2.8 metres.
Marcel Robillard, President and CEO of Puma, remarked, “We are extremely pleased to welcome Crescat, as a significant strategic shareholder of the Company as we continue to unlock the mineral potential of the Williams Brook Gold Project.”
“This financing will allow us to advance exploration more aggressively at our flagship project which covers 27,000 hectares of favourable geological setting,” he added.
Puma Exploration is a junior mining company focused on the acquisition, exploration, and development of mining companies in Canada.
Puma Exploration Inc. (PUMA) is up 9.09 per cent, trading at $0.36 per share as of 3:57 pm ET.