Key Developments: Paramount Gold and Silver Corp (PZG)
1.34USD
24 May 2013
$-0.02 (-1.47%)
$1.36
$1.32
$1.34
$1.31
194,459
828,123
$2.82
$1.20
Latest Key Developments (Source: Significant Developments)
Paramount Gold And Silver Corp Sells Its Reese River Gold Project In Nevada To Valor Gold Corp For $7.6 Million In Shares
Paramount Gold And Silver Corp announced that it has closed the sale of its Reese River Gold Project to Valor Gold Corp. (Valor) for consideration of 6 million restricted shares of Valor common stock and cash of $21,000. Based on the closing price of VGLD on November 1, 2012, the 6 million Valor common shares would be worth $7.6 million. Valor is a junior exploration company and Pershing Gold Corporation is a shareholder. Paramount holds 8.3% of the issued stock of Valor and has the right to appoint one director to the board of Valor within 90 days. Full Article
Paramount Gold and Silver Corp. Closes $21.4 Million Financing
Paramount Gold and Silver Corp. announced that it has closed its previously announced non-brokered private placement funding of common stock. Paramount has sold 10,417,776 shares of common stock at $2.05 per share, for proceeds of $21,356,441. No warrants were issued in connection with the Transaction. The Company intends to file a registration statement with the U.S. Securities and Exchange Commission to register the resale of the shares of common stock issued at closing of the Transaction as soon as practically possible. Full Article
Paramount Gold and Silver Corp. Announces $18.2 Million Private Placement Of Common Stock
Paramount Gold and Silver Corp. announced that it has entered into definitive agreements with accredited investors to issue shares of its common stock in a private placement transaction (the Transaction). Under the terms of the Transaction, Paramount has agreed to sell an aggregate of 8,917,776 shares of common stock at $2.05 per share, for aggregate proceeds of $18,281,441. The closing of the Transaction is anticipated to occur on or about March 30, 2012, subject to the satisfaction of customary closing conditions. Net proceeds from the Transaction will be used primarily to support the Company's current exploration and development plans together with the Company's ongoing general corporate and working capital requirements. In connection with the Transaction, the Company has agreed to use commercially reasonable efforts to file a registration statement with the U.S. Securities and Exchange Commission to register the resale of the shares of common stock issued at closing of the Transaction. Full Article
Icon Industries Ltd Executes Agreement With Paramount Gold and Silver Corp.
Icon Industries Ltd announced that it has entered into a Sale and Purchase Agreement with Paramount Gold and Silver Corp. (Paramount). The Agreement covers ICN's Dunes and North Dunes Projects which are strategically located between Paramount's Sleeper Gold Project to the north and lie adjacent to Newmont's Sandman Deposit, 11 miles south of the Sleeper Mine. The 606 Claims subject to the Agreement cover a total of approximately 12,000 acres (4,900 hectares) and are located in northwestern Nevada, approximately 30 km northwest of Winnemucca. A 100% interest in the Claims is being purchased from ICN in exchange for 400,000 common shares in the capital of Paramount (the shares are subject to a four month plus one day hold period). ICN retains a net smelter royalty (NSR) of 1.5% on the Claims not subject to other royalties (248 in total) and a net smelter royalty of 0.5% on the remaining claims which were already subject to an underlying 2.0% royalty to a third party. Paramount has the option to purchase 0.5% of either or both NSRs for a cash payment of $500,000 each. Closing of this transaction is subject to regulatory approval and a 15 day due diligence period. Full Article
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