Pershing Resources Raises Funds
Rhea-AI Summary
Pershing Resources Company (OTC PINK:PSGR) announced on November 13, 2020, the successful issuance of a $200,000 convertible note to a current security-holder. The note, with a 180-day term and 3% interest, is convertible at $0.02 per share, potentially leading to the issuance of 10 million shares. Proceeds will fund accrued expenses, acquire mineral exploration leases, and support working capital. The company focuses on developing its New Enterprise Project in Arizona, amidst the challenges of the mining sector.
AI-generated analysis. Not financial advice.
Positive
- Raised $200,000 through a convertible note.
- Proceeds will help fund mineral exploration and working capital.
Negative
- Convertible note may dilute existing shareholders' equity if converted.
News Market Reaction – PSGR
On the day this news was published, PSGR declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
The Company Raises
RENO, NV / ACCESSWIRE / November 13, 2020 / Pershing Resources Company, Inc., (OTC PINK:PSGR), a precious and base metals exploration and mining company, today announced that as of October 30, 2020, the Company has received a total of
The Company intends to use the proceeds it received from this private placement for the payment of accrued expenses, acquisition of additional mineral exploration leases and for general working capital purposes.
About Pershing Resources
Pershing Resources is a precious and base metals exploration and development company with several projects in North America. The Company is based in Reno, Nevada and is currently focused on the development of its
Forward-Looking Statements
The information contained in this press release as well as the information on the Company's website is provided solely for the reader's general knowledge. Such information is not intended to be a comprehensive review of all matters pertaining to the Company. Certain statements included herein and on the Company's website, constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current knowledge, assumptions, judgment and expectations regarding future performance or events. Although management believes that the expectations reflected in such statements are reasonable, these forward-looking statements are based on the beliefs of, assumptions made by, and information currently available to the Company's management. When used in this press release and on the Company's website, the words "estimate," "project," "believe," "anticipate," "intend," "expect," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance and/or achievements of the Company or of the precious metals mining industry in general to be materially different from future results, performance and/or achievements expressed or implied by those forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties related to fluctuations in gold, silver, copper and other commodity prices, uncertainties relating to interpretation of drill results and the geology of the Company's properties, uncertainty of estimates of capital and operating costs, the need for cooperation of government agencies in the development of the Company's mineral projects, the need to obtain additional financing to develop the Company's mineral projects, the possibility of delay in development programs or in construction projects, the uncertainty of meeting anticipated program milestones for the Company's mineral projects and the potential effects of the current COVID-19 pandemic on the Company's operations. All forward-looking statements are expressly qualified in their entirety by this cautionary notice. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this release. The Company has no obligation, and expressly disclaims any obligation, to update, revise or correct any of the forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT:
Pershing Resources Company, Inc.
200 South Virginia Street, 8th Floor
Reno, NV 89501
Phone: 775-398-3124
Email: j.adams@pershingpm.com
SOURCE: Pershing Resources Company, Inc.
View source version on accesswire.com:
https://www.accesswire.com/616552/Pershing-Resources-Raises-Funds