Vancouver, British Columbia--(Newsfile Corp. - June 15, 2018) - Pan Global Resources Inc. (TSXV: PGZ) ("Pan Global" or the "Company") today announced it has arranged a non-brokered private placement financing of up to 15,000,000 units (the "Units") of securities at a price of $0.20 per Unit for aggregate gross proceeds of up to $3,000,000.00 (the "Offering"). Each Unit will be comprised of one (1) common share and one-half of one (1/2) non-transferable common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of $0.30 for eighteen (18) months from closing of the Offering. The expiry date of the warrants may be accelerated by the Company if the common shares of the Company achieve a volume weighted average trading price greater than $0.35 for twenty (20) consecutive trading days, after four months and one day following closing of the Offering.
Finders' fees of up to 6.0% cash and up to 6.0% Units may be payable on a portion of the Offering.
The net proceeds of the private placement will be used to fund the Company's on-going exploration programs, including drilling on the Company's Águilas Project in Andalucia, Spain, and for working capital.
Completion of the private placement is subject to the approval of the TSX Venture Exchange.
About Pan Global Resources
Pan Global Resources Inc. is actively engaged in base and precious metal exploration in Spain and is pursuing opportunities from exploration through to mine development. The company has committed to operating safely and with respect to the communities and environment where we operate.
On behalf of the Board of Directors
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