Canada's P2 Gold nabs $212,000 in 2nd tranche of non-brokered PP

Vancouver-based P2 Gold Inc., a precious metals exploration company, has raised $212,000 through its non-brokered private placement (PP) of non-flow-through units.

The offering consisted of 785,632 units and each unit had one common share and one common share purchase warrant, allowing the holder to purchase a further share at $0.40 per share within two years.

P2 Gold intends to use the fresh capital from the offering to back its exploration and engineering expenses, as well as for general corporate purposes.

In addition, insiders of the company subscribed for 92,593 units in the second tranche, which is considered a related party transaction subject to certain regulatory requirements.