VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 6, 2017) -
NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES
PNG Gold Corporation (the "Company") (TSX VENTURE:PGK) wishes to announce a non-brokered private placement of up to 10,000,000 common shares ("Shares") at a price of $0.30 per Share (the "Offering"). All securities issued under the Offering are subject to a four month hold period from the date of issuance. The Offering remains subject to the final approval of the TSX Venture Exchange.
The Company proposes to use the proceeds of the Offering as follows: to pay commissions to finders in connection with the Offering; to pay the expenses of the Offering; and for working capital and general corporate purposes.
On Behalf of the Board of PNG Gold Corporation
Greg Clarkes, Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the control of PNG Gold Corporation. These include, but are not limited to, the receipt of TSXV acceptance of the Offering and the proposed use of proceeds of the Offering. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company assumes no obligation to update forward-looking statements, except as required by applicable law.