Pinnacle Closes Oversubscribed Non-Brokered Private Placement

Group 1 - Pinnacle Silver and Gold Corp. has successfully closed a non-brokered private placement, raising gross proceeds of $1,686,608, with the offering being oversubscribed and consisting of 28,110,134 units priced at $0.06 each [1] - Each unit comprises one common share and one-half share purchase warrant, with each whole warrant convertible into an additional share at an exercise price of $0.10 for 24 months [1] - The net proceeds will be utilized to advance the high-grade El Potrero gold-silver project in Durango, Mexico, and for general working capital [2] Group 2 - Insiders subscribed for a total of 3,108,333 units for $186,500, which is classified as a "related party transaction" under Multilateral Instrument 61-101 [4] - The company is relying on exemptions from formal valuation and minority approval requirements, as the fair market value of the transaction does not exceed 25% of the company's market capitalization [4] Group 3 - Pinnacle is focused on district-scale exploration for precious metals in the Americas, with significant projects including the high-grade Potrero gold-silver project and the Argosy Gold Mine in Ontario [6] - The company aims to build long-term, sustainable value for shareholders through its seasoned management team and quality projects [6]