Pennine Petroleum (TSE:PNN) has released an update.
Pambili Natural Resources Corporation successfully completed a non-brokered private placement, raising C$105,000 through the sale of 2.1 million units at C$0.05 each, which includes a share and a purchase warrant. The funds raised are earmarked for general working capital, with each warrant allowing the purchase of an additional share at C$0.10 within a year. The deal, involving some company insiders, adheres to regulatory rules and aims to support Pambili’s growth in Zimbabwe’s gold sector.
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