(TheNewswire)
London, Ontario – TheNewswire – August 16, 2022 - Peloton Minerals Corporation(“PMC” or the “Company”) (CSE:PMC ) ; ( OTC:PMCCF) hasclosed a non-brokered private placement of CDN$280,651.90 (the “ PrivatePlacement ”) and consisting of 5,613,038units priced at CDN$0.05 per unit. Each unit consists of one commonshare and one common share purchase warrant exercisable for threeyears at $0.10.
The Private Placement will be conducted in relianceupon certain prospectus exemptions, includingthe exemption allowing issuers to raise capital by distributingsecurities to existing shareholders (the“Existing Shareholder Exemption”) contained in OSC Rule 45-501 (2.9) and the various corresponding blanket orders and rules of participatingjurisdictions (with the exception of Newfoundland and Labrador) as well as other available prospectus exemptions,including sales to accredited investors and close personal friends and business associates of directors andofficers of the Company. The Company has set August 12, 2022 as therecord date for the purpose of determining existingshareholders entitled to purchase Sharespursuant to the Existing Shareholder Exemption. The proceeds of thePrivate Placement will be used for working capital. Subscriptions are accepted in whole or in part at thediscretion of the Company on a first come, first served basis.
The securities issued in connection with the PrivatePlacement are subject to a hold period expiring four months and oneday from the issuance of the securities.
For further information please contact:
Edward (Ted) Ellwood, MBA
President & CEO 1-519-964-2836
Peloton is a reporting issuer in good standing in the Provinces ofOntario and British Columbia whose common shares are listed on the CSE(Symbol: PMC) and trade in the U.S. on the OTC QB (Symbol: PMCCF).There are 113,334,421 common shares issued and outstanding in thecapital of the Company before the private placement described above.
Celerity owns 100% of the Boulder Property and Peloton owns 50% ofCelerity prior to any Celerity financing. Peloton also owns 100% ofthree Carlin style gold exploration projects in Elko County, Nevada,and one epithermal past producing gold project in Montana under optionto a JV partner.
CSE has notreviewed and does not accept responsibility for the adequacy oraccuracy of this release.
This news release contains"forward-looking information" (within the meaning ofapplicable Canadian securities laws) and "forward-lookingstatements" (within the meaning of the U.S. Private SecuritiesLitigation Reform Act of 1995). Such statements or information areidentified with words such as "anticipate","believe", "expect", "plan","intend", "potential", "estimate","propose", "project", "outlook","foresee" or similar words suggesting future outcomes orstatements regarding an outlook.
Although the Company believes thatthe expectations reflected in the forward-looking information orstatements are reasonable, prospective investors in the Company’ssecurities should not place undue reliance on forward-looking statements because theCompany can provide no assurance that such expectations will prove tobe correct. Forward-looking information and statements contained inthis news release are as of the date of this news release and theCompany assumes no obligation to update or revise this forward-lookinginformation and statements except as required by law.
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