(TheNewswire)
VANCOUVER, BRITISHCOLUMBIA – TheNewswire - April 12, 2024 (TSXV:PINN ) , ( OTC:NRGOF ) , ( Frankfurt:X6C)– Pinnacle Silver and Gold Corp. (" Pinnacle " or the “ Company ") announces that it is arranging a non-brokered private placement to raisegross proceeds of up to $600,000 (the “Offering”). The placementwill consist of up to 20,000,000 units (the "Units") witheach Unit comprising one common share (“Share”) in the capital ofthe Company and one-half share purchase warrant ("Warrant"),whereby each whole Warrant shall be convertible into an additionalShare at an exercise price of $0.05 for a period of 24 months from thedate of issuance. A finder’s fee of up to 6%in cash and 6% in warrants exercisable into Shares at $0.05 for aperiod of 24 months may also be paid.
The net proceeds raised from the Offering will be usedfor the preparation of summer drilling at the Argosy Gold Mine andNorth Birch Project, new project evaluations and general workingcapital.
All securities to be issued will be subject to afour-month hold period from the date of issuance and subject to TSXVenture Exchange approval. The securities offered have not beenregistered under the UnitedStates Securities Act of 1933 , as amended, andmay not be offered or sold in the United States absent registration oran applicable exemption from the registration requirements.
AboutPinnacle Silver and Gold Corp.
Pinnacle is currently focused on district-scale explorationfor precious metals in the prolific Red Lake District of northwesternOntario. The past-producing high-grade Argosy Gold Mine is open todepth, while the adjacent North Birch Project offers additionalblue-sky potential. Pinnacle is also activelylooking for other district-scale opportunities in the Americas, with aparticular focus on silver and gold. With a seasoned, highlysuccessful management team and quality projects, Pinnacle Silver andGold is committed to building long term, sustainable value forshareholders.
Forfurther information contact :
Email: info@pinnaclesilverandgold.com
Website: www.pinnaclesilverandgold.com
Neither the TSXVenture Exchange nor the Investment Industry Regulatory Organizationof Canada accepts responsibility for the adequacy or accuracy of thisrelease .
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