Pinnacle Silver and Gold (TSX-V:PINN) has extended the closing date of a previously reported non-brokered private placement until 26 September 2026.
The offering comprises up to 20 million units at C$0.11 to raise C$2.2 million ($2.21 million).
Earlier this month, the company closed the first tranche of the placement, raising C$652,080. Tranche one comprised 5.93 million units, each consisting of one common share and half of a share purchase warrant. Each whole warrant can be converted into an additional share at an exercise price of C$0.16 for two years.
Proceeds will be used to advance the El Potrero Gold-Silver Project in Mexico, fund project evaluations, and provide general working capital.
El Potrero hosts a low-sulphidation epithermal vein system within the Sierra Madre Occidental, a major silver–gold mineral belt extending along western Mexico.
The project is located within a ‘high-grade’ polymetallic mining district with four producing mines within 35km.
Pinnacle Silver and Gold is focused on the development of precious metals projects in the Americas.
Write to Aaliyah Rogan at Mining.com.au
Images: Pinnacle Silver and Gold
