{"id":15363,"date":"2025-02-26T00:53:19","date_gmt":"2025-02-26T00:53:19","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2025\/02\/26\/pinnacle-closes-non-brokered-private-placement-and-associated-acquisition-of-el-potrero-option\/"},"modified":"2025-02-26T00:53:19","modified_gmt":"2025-02-26T00:53:19","slug":"pinnacle-closes-non-brokered-private-placement-and-associated-acquisition-of-el-potrero-option","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2025\/02\/26\/pinnacle-closes-non-brokered-private-placement-and-associated-acquisition-of-el-potrero-option\/","title":{"rendered":"Pinnacle Closes Non-Brokered Private Placement and Associated Acquisition of El Potrero Option"},"content":{"rendered":"<\/p>\n
\n

(TheNewswire) <\/p>\n

\n<\/div>\n

The Part-and-Parcel <\/span> private <\/span> placement <\/span> was fully subscribed and <\/span> raised <\/span> gross <\/span> proceeds <\/span> of <\/span> $800,000, subject to final TSXV approval. <\/span> The <\/span> placement <\/span> consists <\/span> of <\/span> 20,000,000 <\/span> units <\/span> (the <\/span> \u2018Units\u2019) <\/span> at <\/span> a <\/span> price <\/span> of <\/span> $0.04 <\/span> per <\/span> Unit, <\/span> with <\/span> each <\/span> Unit <\/span> comprising <\/span> one <\/span> common <\/span> share <\/span> (\u2018Share\u2019) <\/span> in <\/span> the <\/span> capital <\/span> of <\/span> the <\/span> Company <\/span> and <\/span> one-half <\/span> share <\/span> purchase <\/span> warrant <\/span> (\u2018Warrant\u2019), <\/span> whereby <\/span> each <\/span> whole <\/span> Warrant <\/span> shall <\/span> be <\/span> convertible <\/span> into <\/span> an <\/span> additional <\/span> Share <\/span> at <\/span> an <\/span> exercise <\/span> price <\/span> of <\/span> $0.06 <\/span> for <\/span> a <\/span> period <\/span> of 24 <\/span> months <\/span> from <\/span> the <\/span> date <\/span> of <\/span> issuance. <\/span> No f <\/span> inder\u2019s <\/span> fees <\/span> were <\/span> paid. <\/span><\/p>\n

The <\/span> net <\/span> proceeds <\/span> raised <\/span> from <\/span> the <\/span> Financing <\/span> will <\/span> be <\/span> used <\/span> for <\/span> exploration <\/span> and <\/span> development <\/span> of <\/span> the <\/span> Potrero <\/span> Project, payment of the back-taxes, <\/span> and <\/span> for <\/span> working <\/span> capital. <\/span><\/p>\n

All securities to be issued will be subject to a four-month hold period from the date of issuance and subject to TSX Venture Exchange approval.\u00a0\u00a0The securities offered have not been registered under the <\/span> United States Securities Act of 1933 <\/span> , as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. <\/span><\/p>\n

Insiders subscribed for an aggregate of 648,500 Units for a total of $25,940. \u00a0As insiders of Pinnacle participated in the financing, it is deemed to be a \u2018related party transaction\u2019 within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (\u2018MI 61- 101\u2019). \u00a0Pinnacle is relying on the exemptions from the formal valuation and minority approval requirements contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, on the basis that the fair market value of the transaction does not exceed 25% of the Company\u2019s market capitalization. \u00a0The Company will be filing a material change report in respect of the related party transaction on SEDAR. <\/span><\/p>\n

Subject to final TSXV approval, it is anticipated that the Company\u2019s share will resume trading effective at the open on February 28, 2025. <\/span><\/p>\n

<\/a> About Pinnacle Silver and Gold Corp.<\/span><\/p>\n

Pinnacle <\/span> is <\/span> focused <\/span> on <\/span> district-scale <\/span> exploration <\/span> for <\/span> precious <\/span> metals <\/span> in the Americas. \u00a0The addition of the high-grade Potrero gold-silver project in Mexico\u2019s Sierra Madre Belt will complement the Company\u2019s project portfolio and provide the potential for near-term production <\/span> . <\/span> In the prolific <\/span> Red <\/span> Lake <\/span> District <\/span> of <\/span> northwestern <\/span> Ontario, the Company owns a 100% <\/span> interest in the <\/span> past-producing, <\/span> high-grade <\/span> Argosy <\/span> Gold <\/span> Mine and the adjacent North Birch <\/span> Project <\/span> with an eight-kilometre-long target horizon <\/span> . <\/span> With <\/span> a <\/span> seasoned, <\/span> highly <\/span> successful <\/span> management <\/span> team <\/span> and <\/span> quality <\/span> projects, <\/span> Pinnacle <\/span> Silver <\/span> and <\/span> Gold <\/span> is committed <\/span> to <\/span> building <\/span> long <\/span> -term <\/span> , <\/span> sustainable <\/span> value <\/span> for <\/span> shareholders. <\/span><\/p>\n

Signed: \u2018Robert A. Archer\u2019 <\/span><\/p>\n

President & CEO <\/span><\/p>\n

<\/a> For further information contact <\/span> : <\/span><\/p>\n

Email: <\/span> info@pinnaclesilverandgold.com <\/span><\/span><\/p>\n

Tel.: \u00a0+1 (877) 271-5886 ext. 110 <\/span><\/p>\n

<\/a> Website: <\/span> www.pinnaclesilverandgold.com <\/span><\/span><\/p>\n

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release <\/span> . <\/span><\/p>\n

Copyright (c) 2025 TheNewswire \u2013 All rights reserved. <\/p>\n<\/p>\n<\/div>\n

News Provided by TheNewsWire via QuoteMedia<\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

(TheNewswire) The Part-and-Parcel private placement was fully subscribed and raised gross proceeds of $800,000, subject to final TSXV approval. The placement consists of 20,000,000 units (the \u2018Units\u2019) at a price of $0.04 per Unit, with each Unit comprising one common share (\u2018Share\u2019) in the capital of the Company and one-half share purchase warrant (\u2018Warrant\u2019), whereby […]<\/p>\n","protected":false},"author":0,"featured_media":15364,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-15363","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/15363","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=15363"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/15363\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/15364"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=15363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=15363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=15363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}