Puma Exploration Closes Kinross $2M Private Placement

Core Viewpoint - Puma Exploration Inc. has successfully closed a private placement with Kinross Gold Corporation, increasing Kinross's ownership stake in Puma from 9.1% to 14.8% on an undiluted basis and 17.4% on a partially diluted basis [2]. Group 1: Private Placement Details - Kinross subscribed to 12,500,000 units of Puma at a price of $0.16 per unit, raising total proceeds of $2,000,000 [2]. - Each unit consists of one common share and one-half common share purchase warrant, with each warrant exercisable at $0.25 per share until December 24, 2027 [3]. - The warrants include an acceleration clause that allows Puma to notify holders of an early expiration if the share price exceeds $0.40 for 30 consecutive trading days [3]. Group 2: Use of Proceeds - The funds raised will be utilized to support exploration activities on Puma's projects that are not optioned to Kinross, as well as for general corporate and working capital needs [4]. Group 3: Kinross's Investment Position - Following the investment, Kinross holds 29,550,577 common shares and 6,250,000 warrants of Puma [5]. - Kinross retains the right to participate in future equity financings to maintain or increase its ownership percentage up to 19.9% of Puma's total issued and outstanding common shares [5]. Group 4: Puma's Exploration Assets - Puma has a portfolio of gold landholdings in Northern New Brunswick, including the Williams Brook Project and the McKenzie Gold Project, both located near significant geological structures [8]. - The company has focused its exploration efforts on the Williams Brook property, which has shown potential for significant gold mineralization [8]. Group 5: Company Background - Puma Exploration is a Canadian mineral exploration company with over 15 years of experience in Northern New Brunswick, focusing on precious metals projects [9]. - The company employs a successful exploration methodology that combines traditional prospecting with advanced technologies, including Artificial Intelligence, to enhance its exploration efforts [10].