P2 Gold Announces Financing

Executive Summary

• P2 Gold Inc. announced a non‑brokered private placement of up to 30 million units at $0.20 per unit, targeting gross proceeds of up to $6 million.
• Each unit consists of one common share and one warrant to purchase an additional share at $0.30, with specific expiry and acceleration provisions.
• Proceeds will be used for exploration and development at the Gabbs Project in Nevada and for general corporate purposes.

Key Details

• Offering Size: Up to 30 million units (each = 1 common share + 1 warrant).
• Price per Unit: $0.20 → Maximum gross proceeds of $6,000,000.
• Warrant Terms: Right to purchase one additional common share at $0.30; exercisable after 60 days, expires 2 years from issue; acceleration possible if TSX‑V price ≥ $0.50 for 10 consecutive trading days after four months.
• Closing Conditions: Completion of documentation and receipt of all regulatory approvals, including Exchange approval.
• Use of Proceeds: Fund exploration and development expenditures at the Gabbs Project (Nevada) and general corporate purposes.
• Finder’s Fees: May be paid in accordance with Exchange policies.
• Hold Periods: No hold period for Canadian resident subscribers; insiders/consultants subject to a four‑month hold period per Exchange rules.
• Related Party Transaction: Insiders may subscribe, but participation will not exceed 25 % of fair market value of the company’s market capitalization; reliance on MI 61‑101 exemptions.
• Regulatory Filings: A material change report will be filed ≤21 days before closing.

Notable Quotes

(No direct quotes were included in the release.)