Pennine Petroleum (TSE:PNN) has released an update.
Pambili Natural Resources Corporation has launched a C$100,000 non-brokered private placement at 5 cents per unit, which includes a common share and a 12-month warrant, as part of its strategy to bolster working capital and continue its expansion in Zimbabwe’s gold sector. The offering has garnered interest from both insiders and new international investors, reflecting confidence in the company’s potential for shareholder returns. Regulatory approvals are pending, and a four-month hold period on securities issued is to be expected under Canadian law.
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