Puma Exploration Closes $1,200,000 Non-Brokered Financing

Executive Summary

• Puma Exploration closed a non‑brokered placement of 6,000,000 flow‑through units at $0.20 per unit, raising C$1.2 million in gross proceeds.
• Each FT Unit includes one flow‑through share and half of a common‑share purchase warrant exercisable at $0.25 until Dec 9 2027; warrants carry an acceleration clause tied to the TSXV price.
• Net proceeds will be used for eligible Canadian exploration expenses, primarily to advance the McKenzie Gold Project and other northern New Brunswick assets.

Key Details

• Placement Size & Pricing: 6,000,000 FT Units @ C$0.20 per unit = C$1,200,000 gross proceeds.
• Unit Composition: 1 flow‑through share + ½ common share purchase warrant per unit.
• Warrant Terms: Exercise price $0.25 per share; expiry Dec 9 2027; acceleration possible if TSXV closing price ≥ $0.40 for 30 consecutive trading days, giving holders 30‑day notice period.
• Hold Period: All securities subject to a four‑month‑plus‑one‑day statutory hold period.
• Use of Proceeds: To incur eligible Canadian exploration expenses and flow‑through mining expenditures (renounced to purchasers) for the McKenzie Gold Project and other assets in northern New Brunswick; renunciation effective no later than Dec 31 2026.
• Finder Compensation: Paid aggregate cash finder fees of $76,650; issued 383,250 non‑transferable finder warrants with identical terms to investor warrants.
• Insider Participation: Directors/insiders subscribed for 100,000 FT Units at a total of $20,000, complying with MI 61‑101 thresholds (≤25% of market cap); exemption from formal valuation and minority approval obtained under sections 5.5(a) & 5.7(1)(a).
• Qualified Person: Marcel Robillard, President, prepared the release.

Notable Quotes

(No direct quotes were provided in the release.)