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Pancontinental Gold Corp. Closes $1.97 Million Private Placement

06.04.2018  |  Newsfile
Toronto, April 6, 2018 - Pancontinental Gold Corp. (TSXV: PUC) (the "Company"), is pleased to announce the closing of its previously announced non-brokered private placement of flow-through shares and units for gross proceeds of $1,976,490. The Company issued 16,266,500 common shares of the company which will qualify as "flow-through shares" pursuant to the Income Tax Act (Canada) at a price per flow-through share of $0.06 for gross proceeds of $975,990. In addition, the Company issued 20,010,000 units comprised of one common share and one-half of a common share purchase warrant at a price of $0.05 per unit for gross proceeds of $1,000,500. The Company paid finder's fees of $4,620 with respect to gross proceeds raised.

Each whole warrant will entitle the holder thereof to acquire one common share of the Company at a price of $0.08 per common share for a period of eighteen months from the date of issuance, provided that the expiry date can be accelerated in the event the common shares trade on a stock exchange at a volume weighted average trading price $0.15, or greater, per common share for a period of 20 consecutive trading days following the expiry of the statutory trading restriction on April 5, 2018.

About Pancontinental Gold Corporation

Pancontinental is a Canadian-based mining company focused on the exploration and development of its Montcalm West nickel-copper-cobalt project in Ontario, Canada, and its 100%-owned Jefferson gold project in South Carolina, USA. The Company continues to focus on acquiring additional prospective properties in low-risk areas in proximity to producing or former mines. In 2015, Pancontinental sold its interest in its Australian rare earth element (REE) and uranium properties, formerly held through a joint venture, and retains a 1% gross overriding royalty on 100% of future production.

For further information, please contact:

Layton Croft
President and CEO
1-416-293-8437
1-980-309-8419
laytoncroft@pancongold.com

For additional information please visit our web site: www.pancongold.com, and our Twitter feed: @PanconGold.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Language and Forward Looking Statements

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

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