Puma Exploration Closes Private Placement Offerings for Gross Proceeds of $1,008,035

RIMOUSKI, Québec, May 11, 2023 (GLOBE NEWSWIRE) -- Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the “Company” or “Puma”) announces that it has closed the first tranche of a non-brokered placement (the “FT Private Placement”) consisting of 2,854,243 flow-through units (the “FT Units”) at $0.185 per FT Unit for gross proceeds of C$528,035. Each FT Unit is comprised of one flow-through share and one-half common share purchase warrant. Each whole warrant is exercisable to purchase one common share of the Company at $0.22 per share until May 11, 2025. The Company expects to close the balance of the FT Private Placement consisting of up to 7,145,757 FT Units for gross proceeds of up to $1,321,965, in one or more additional tranches.

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