Peloton Minerals Corporation: Private Placement
London, December 5, 2018 - Peloton Minerals Corp. ("PMC" or the "Company") (CSE Symbol: PMC; OTCQB Symbol: PMCCF) will be closing a non-brokered private placement of CDN$130,122.50 (the "Private Placement") and consisting of 1,301,225 units priced at CDN$0.10 per unit. Each unit consists of one common share and one common share purchase warrant exercisable for three years at $0.15. The Private Placement will be conducted in reliance upon certain prospectus exemptions, including the exemption allowing issuers to raise capital by distributing securities to existing shareholders (the "Existing Shareholder Exemption") contained in OSC Rule 45-501 (2.9) and the various corresponding blanket orders and rules of participating jurisdictions (with the exception of Newfoundland and Labrador) as well as other available prospectus exemptions, including sales to accredited investors and close personal friends and business associates of directors and officers of the Company. The Company has set December 4, 2018 as the record date for the purpose of determining existing shareholders entitled to purchase Shares pursuant to the Existing Shareholder Exemption. The proceeds of the Private Placement will be used for working capital. Subscriptions are accepted in whole or in part at the discretion of the Company on a first come, first served basis.
The Company has recently granted a total of 500,000 incentive stock options to a director of the Company and 100,000 incentive stock options to a consultant of the Company. The options granted to the consultant take effect when the Company signs an agreement with the consultant. These options are exercisable over five years at an exercise price of $0.10.
For further information please contact:
Edward (Ted) Ellwood, MBA
President & CEO 1-519-964-2836
Peloton Minerals Corp. is a reporting issuer in good standing in the Province of Ontario whose common shares are listed on the CSE (Symbol: PMC) and trade in the U.S. on the OTC QB (Symbol: PMCCF). There are 76,242,950 common shares issued and outstanding in the capital of the Company before the issuance of the shares described in this release.
Peloton owns three gold exploration projects located in Elko County, Nevada, one of which is under option to Kinross Gold. The Company also has projects in Montana and Ontario, Canada.
CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding an outlook.
Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company's securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.
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