P2 Gold increases financing to $11-million

Executive Summary

• P2 Gold Inc. is increasing its non‑brokered private placement to 55 million units at $0.20 per unit, targeting gross proceeds of up to $11 million.
• Each unit consists of one common share and one warrant (exercise price $0.30, 2‑year term, 60‑day lock‑up; acceleration provision removed).
• Proceeds will fund exploration and development at the Gabbs gold‑copper project in Nevada and general corporate purposes.

Key Details

• Upsized Offering: 55 million units (previously 30 million) @ $0.20 per unit → up to $11 M gross proceeds.
• Unit Composition: 1 common share + 1 common share purchase warrant.
• Warrant Terms: Exercise price $0.30 per share; exercisable for two years after issue, with a 60‑day lock‑up; acceleration provision removed.
• Closing Conditions: Completion of documentation and receipt of all required regulatory approvals, including exchange approval.
• Use of Proceeds: Finance exploration and development at the Gabbs project (Nevada) and general corporate purposes.
• Finder’s Fees: May be paid in accordance with exchange policies.
• Canadian Investors: 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; transaction qualifies for exemptions under MI 61‑101 (valuation and minority approval not required) as insider participation will be ≤ 25 % of fair market value.
• Regulatory Filings: Material change report to be filed <21 days before closing.

Notable Quotes

(No direct quotes were provided in the release.)