DRP Journal

Discover Research Profit

Finance 

Puma Exploration Inc. (OTCQB: PUMXF) Announces Non-Brokered Financing

Jon Williams

As the markets reopen following a day of festivities, investors are going to go straight into the news from this week that may make certain stocks the focal point today. One of those stocks could be that of Puma Exploration Inc. (OTCQB: PUMXF), which had been in focus after a significant announcement on Christmas Eve.

Fresh Financing

At the time, the company had announced that it successfully closed a non-brokered placement to raise gross proceeds to the tune of C$668,500. In the news release, Puma Exploration stated that it had offered as many as 6,685,000 flow-through units for the price of C$0.10 each.

Key Details

It was also revealed that each flow-through unit consisted of a flow-through share in the company and one common share purchase warrant. The holder would be able to exercise a warrant to pick up a share in the company for C$0.15 up until 24 months since the date of issuance.

Acceleration Clause

Puma Exploration also announced that the warrants were also going to be subjected to an acceleration clause that would entitle the company to provide notice to the warrant holders. In such a scenario, the holders would have to exercise their rights within a period of 30 days since the issuance of the notice.

Jon Williams

Jon graduated from the University of Michigan with a degree in finance. He is an avid investor and enjoys reporting on the markets. When he is not in front of a computer he enjoys playing golf and watching basketball.