(TheNewswire)
London, Ontario / TheNewswire / August 31, 2017 - Peloton Minerals Corporation ("Peloton" or the "Company") (CSE Symbol: PMC) has closed the second tranche of a non-brokered private placement (the "Private Placement") previously announced May 3, 2017 for gross proceeds totaling $272,139.95 and consisting of 4,947,999 units priced at $0.055 per unit. Each unit consists of one common share and one common share purchase warrant exercisable for three years at $0.10. Proceeds from the private placement will be used for general working capital and administrative expenses. The common shares in 525,000 units are issued on a flow-through basis under the provisions of the Income Tax Act (Canada) and the $28,875 from these shares will be spent on the Company's River Stage Property 90 kilometers southeast of the Town of Kenora, Ontario.
The securities issued in connection with the Private Placement are subject to a hold period expiring four months and one day from the issuance of the securities.
For further information please contact:
Edward (Ted) Ellwood, MBA
President & CEO
1-519-964-2836
Peloton Minerals Corporation is a reporting issuer in good standing in the Province of Ontario whose common shares are listed on CSE (Symbol: PMC). There are 70,456,706 common shares issued and outstanding in the capital of the Company including the issuance described in this release.
Peloton owns a 100% working interest in four gold exploration projects located in the US states of Nevada and Montana and in the Province of Ontario, Canada.
CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding an outlook.
Such statements include, among others, those concerning the Company's plans for exploration activity and to conduct future exploration programs. Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management's expectations regarding its ability to finance, initiate and complete future exploration work as expected. Actual results could differ materially due to a number of factors, including, without limitation, operational risks in the completion of the Company's future exploration work, technical, safety or regulatory issues.
Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company's securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.
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