Pancon Awards Advisory Agreements
Toronto, Ontario--(Newsfile Corp. - September 3, 2019) - Pancontinental Resources Corporation (TSXV: PUC) ("Pancon" or the "Company") announces that it has entered into advisory services agreements (the "Agreements") with Liberty Capital Inc. and Lateral Management Inc. (jointly known as "Advisors"). Under the terms of the Agreements, the Advisors will provide Pancon long-term strategic support and advisory services on corporate development, including growing the business and leveraging strategic partnerships.
The Agreements between the Company and the Advisors have five-year fixed terms, and the Advisors will not receive cash compensation. Each Advisor will be granted 2,000,000 stock options priced at $0.10 per share and exercisable for a period of five years, with 500,000 stock options to each Advisor vesting immediately and 500,000 stock option installments for each Advisor vesting when the market capitalization of the Company reaches $15 million, $25 million and $35 million, respectively.
The Company also granted 500,000 stock options to Directors, Managers and Consultants of the Company to purchase common shares, also priced at $0.10 per share and exercisable for a period of five years.
The appointment of the Advisors and the option grants are subject to acceptance of the TSX Venture Exchange. All dollar amounts cited above are in Canadian dollars.
About Pancontinental Resources Corporation
Pancontinental Resources Corporation (TSXV: PUC), or Pancon, is a Canadian junior mining company focused on North American gold and battery metals projects surrounding or near producing or former mines in proven and safe mining districts. Pancon's 100%-owned Jefferson Gold Project is 15 km along-trend from the Haile Gold Mine and surrounds the former Brewer Gold Mine property, on the prolific and underexplored Carolina Slate Belt in South Carolina, USA. In addition, Pancon has five nickel-copper-cobalt projects in Northern Ontario. The Montcalm, Gambler, Nova and Strachan Projects are near and/or surround the former Montcalm Ni-Cu-Co Mine property, located 65 km northwest of Timmins. The St. Laurent Project has an advanced Ni-Cu-Co-Au-Pt-Pd target and is located 50 km south of the Detour Lake Mine and 20 km southwest of the Casa Berardi Mine.
For further information, please contact:
Layton Croft, President & CEO or Jeanny So, Manager, External Relations
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.
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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