Puma Exploration Update and $1,000,000 Private Placement Offering
02 Dezembro 2013 - 2:03PM
Marketwired
Puma Exploration Update and $1,000,000 Private Placement Offering
RIMOUSKI, QUEBEC--(Marketwired - Dec 2, 2013) - Puma Exploration
(TSX-VENTURE:PUM) is pleased to provide an exploration update on
activities in progress at the Nicholas-Denys and Turgeon Projects
in New Brunswick. Currently, stripping and trenching programs are
underway at on the Nicholas-Denys porphyry and surrounding skarn
units to validate the preliminary anomalies from the recently
completed IP surface geophysical survey. Following the discovery of
copper and molybdenum sulphide mineralization in the first few
trenches, the IP survey has been extended from the initial 31 line
kms to 48 line kms to cover the entire 16 km2 of granodiorite. The
results from the trenching program combined with the final
interpretation IP survey results will lead to the definition of
first priority targets to be drilled at Nicholas-Denys.
At the same time,
stripping and trenching programs are being completed on the Turgeon
South property as a follow-up to last year's new copper showing
discovery. That program had discovered quartz veins ranging from 2
to 6 meters wide over a 60-meter strike length containing
chalcopyrite and pyrite. Following the trenching and stripping,
Puma prepared the first 12 drill pad sites for the imminent
drilling program at Turgeon Copper-Zinc Deposit.
Puma has arranged a
non-brokered private placement to issue up to 4,761,904
flow-through units ("The offering") at a price of $0.21 per unit,
for gross proceeds of up to $1,000,000. Each flow-through unit will
consist of one flow-through common share and one half of one share
purchase warrant. Each full purchase warrant will entitle the
holder to acquire one non-flow through common share of the Company
at a price of $0.30 for a period of two years from the date of
issuance.
The Offering is
subject to the approval of the TSX Venture Exchange. In relation
with this with this Private Placement, the Company will pay a
finder's fees in an amount of 8% of the gross proceeds raised and
will issue finder's warrants, having the same terms as the Units,
in an amount equal to 8% of the Units sold in the Private
Placement. All securities issued under the Offering will be 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 proceeds of the private
placement will be used for the exploration and development of
Puma's properties in New Brunswick.
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 and Turgeon Projects in New Brunswick and the Little
Stull Lake Gold Project in Manitoba. Puma is focusing its
exploration efforts in New Brunswick, Canada, which has been ranked
fourth in the world to conduct mining exploration by the 2013
Fraser Institute Survey.
Learn more by
clicking here: www.pumaexploration.com
The contents of this
press release were prepared by Marcel Robillard, Geo, 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.
Marcel Robillard. PresidentPuma Exploration(418) 724-0901Toll
free: (800) 321-8564president@explorationpuma.com
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