Papuan Precious Metals Corp. Receives TSX Final Approval on Non-brokered Private Placement Financing
Papuan Precious Metals Corp.. (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 Arizona.
ON BEHALF OF THE BOARD
Dev Randhawa, Chairman & CEO
For further information contact Greg Downey at 1.866.979.7022.
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