Papuan Precious Metals Corp. Receives TSX Final Approval on Non-Brokered Private Placement Financing
PAPUAN PRECIOUS METALS CORP. (TSX VENTURE:PAU) (the "Company") is pleased to
announce that it has received final exchange approval of the previously
announced financing that raised $776,000. As part of the financing, the Company
issued 4,850,000 common share purchase warrants with an exercise price of $0.12
per share, expiring June 24, 2016. The shares and warrants issued for the
financing are subject to a hold period that expires on October 25, 2014.
As stipulated by the Exchange, the Company will only advance a portion of the
proceeds of the financing as a loan to the Company's newly formed subsidiary
upon approval by shareholders of the loan and the plan of arrangement to be held
in mid-September, 2014.
The Company's subsidiary, Pioneer Pacific Finance Corp., is actively pursuing
various opportunities within the medical marijuana industry in Colorado and
ON BEHALF OF THE BOARD
Dev Randhawa, Chairman & CEO
This press release contains "forward-looking information" Forward-looking
information is subject to known and unknown risks, uncertainties and other
factors that may cause PPM's actual results, level of activity, performance or
achievements to be materially different from those expressed or implied by such
forward-looking information. Such factors include, but are not limited to:
uncertainties related exploration and development; the ability to raise
sufficient capital to fund exploration and development; changes in economic
conditions or financial markets; increases in input costs; litigation,
legislative, environmental and other judicial, regulatory, political and
competitive developments; technological or operational difficulties or inability
to obtain permits encountered in connection with exploration activities; and
labour relations matters. This list is not exhaustive of the factors that may
affect our forward-looking information. These and other factors should be
considered carefully and readers should not place undue reliance on such
forward-looking information. PPM disclaims any intention or obligation to update
or revise forward-looking information, whether as a result of new information,
future events or otherwise, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Papuan Precious Metals Corp.