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Provider: Reuters Investment Profile
Provider: GlobalData
Provider: GlobalData
Provider: GlobalData

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Pan Global Resources Inc Announces Update On Close Of Private Placement, Final Approval Of Acquisition of Lithium Li

Thursday, 29 Aug 2013 09:00am EDT 

Pan Global Resources Inc announced that the Company has completed its non-brokered private placement (the Offering) and issued an aggregate of 6,694,666 units (the Units) at a price of $0.15 per Unit for gross proceeds of $1,004,200. Each Unit consists of one common share and one share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of $0.20 for two years from closing of the Offering. All securities issued with respect to the Offering are subject to a hold period expiring December 26th, 2013. Final approval of the Offering has been received from the TSX Venture Exchange, and no finder's fees have been paid or are due. The proceeds of the private placement will be used to further the Company's exploration program in the Republic of Serbia including the drilling of at least 1600m on the Valjevo licence. In addition the Company announced the completion of the purchase of 100% of Lithium Li Holdings Inc. from Mr. Petr Palkovsky. Lithium Li holds exploration licenses in Serbia and Bosnia that had previously been subject to an Option Agreement with the Company. Under the terms of the agreement PGZ has purchased Lithium Li and all its current and any future licences for consideration of cash payments totalling CAD5.8Million, and the issuance of a total of seven million shares to the Vendor over a period of four years. 

Company Quote

-0.01 -50.00%
24 Apr 2015