Pinnacle Completes Oversubscribed Unmediated Private Fundraising
Pinnacle Silver and Gold Corp. Raises $1.7 Million in Oversubscribed Private Placement
Pinnacle Silver and Gold Corp., a precious metals explorer in the Americas, has successfully closed a private placement that was initially announced on July 14, 2025, and subsequently increased due to strong investor demand. The final offering closed on August 7, 2025, raising gross proceeds of $1,686,608.
The private placement consisted of 28,110,134 units, each priced at $0.06. Each unit comprises one common share and one-half share purchase warrant. The warrants are convertible into an additional share at an exercise price of $0.10 for a period of 24 months.
In addition to the offering, Pinnacle paid finder's fees of $20,622 in cash commission and issued 343,700 non-transferable finder's warrants. Each finder's warrant entitles the holder to purchase one common share at $0.10 within 24 months.
The intended use of the proceeds was not explicitly detailed in the sources consulted, but typical uses in such financings often include exploration, development of mining assets, and general corporate purposes. For precise use of proceeds, the company’s official communications or regulatory filings would provide the most direct information.
It is important to note that the securities offered are not registered under the United States Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption. The transaction is deemed to be a "related party transaction" under Multilateral Instrument 61-101.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. The release does not specify the purpose or nature of the information being provided. The contact information given is for corporate inquiries and may not be for media or individual investor inquiries. The Investment Industry Regulatory Organization of Canada is not responsible for the release.
The President & CEO of Pinnacle Silver and Gold Corp. can be contacted via email at [email protected], and the contact number is +1 (877) 271-5886 ext. 110. The official website of Pinnacle Silver and Gold Corp. is www.pinnaclesilverandgold.com.
| Aspect | Details | |-----------------------|--------------------------------------------------------------| | Total gross proceeds | $1,686,608 | | Units issued | 28,110,134 | | Price per Unit | $0.06 | | Unit composition | 1 common share + 0.5 warrant | | Warrant exercise price | $0.10/share | | Warrant exercise period| 24 months | | Finder’s fees paid | $20,622 cash + 343,700 non-transferable warrants | | Use of proceeds | Not specified in search results (likely exploration and corporate purposes) |
[1] TheNewsWire via QuoteMedia - [Link to the original press release] [2] TheNewsWire via QuoteMedia - [Link to the updated press release] [3] TheNewsWire via QuoteMedia - [Link to the final press release] [4] TheNewsWire via QuoteMedia - [Link to the press release announcing the closing of the offering]
In the context of the successful fundraising by Pinnacle Silver and Gold Corp., the raised funds will likely be used for exploration, development of mining assets, and general business purposes. The company's operations are situated in the competitive industry of precious metals exploration, where the financial aspect plays a significant role in enabling the progress of the business.
