(TheNewswire)
London, O N - TheNewswire - May 19, 2023 - Peloton Minerals Corporation (“PMC” orthe “Company”) (CSE:PMC ) ( OTC:PMCCF) intends to close a non-brokered private placementof up to CDN$600,000 (the “ Private Placement ”)in one or more closing s and consisting of 6,666,667 unitspriced at CDN$0.09 per unit. Each unit consists of one common shareand one common share purchase warrant exercisable for three years at$0.12.
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 March 25, 2023 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 Minerals Corporation is a reporting issuer in good standing inthe Provinces of British Columbia and Ontario whose common shares arelisted on the CSE (Symbol: PMC) and trade in the U.S. on the OTC QB (Symbol: PMCCF) . There are 118,947,459 commonshares issued and outstanding in the capital of the Company.
Peloton’s core exploration portfolio includes aCopper Porphyry project near Butte, Montana and three Carlin StyleGold exploration projects in Elko County, Nevada.
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-lookingstatements because the Company can provide no assurance that suchexpectations will prove to be correct. Forward-looking information andstatements contained in this news release are as of the date of thisnews release and the Company assumes no obligation to update or revisethis forward-looking information and statements except as required bylaw.
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