Pinnacle Arranges Non-Brokered Private Placement

(TheNewswire)

  

  The net proceeds raised from the Offering will be used to advance the high-grade El Potrero gold-silver project in Durango, Mexico, and for general working capital.  

  Mr. Michael Kott, Pinnacle’s largest shareholder, and an insider of the Company, has indicated his intention to subscribe for 2,400,000 units, or 12% of the financing.  Other Insiders of the company will also be participating in the offering.  The participation of the insiders in the offering will constitute a related-party transaction for the purposes of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions).  The Company is exempt from the requirements to obtain a formal evaluation or minority shareholder approval in connection with the insider participation in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value of the securities issued, nor the fair market value of the consideration for the securities issued will exceed 25 per cent of the company’s market capitalization as calculated in accordance with MI 61-101.  

  ‘We sincerely appreciate Michael’s continued support in this financing,’ stated Robert Archer, Pinnacle’s President & CEO.  ‘He shares our vision of building a new Americas-focused silver and gold company and advancing El Potrero is a significant step on that journey.’  

  All securities to be issued will be subject to a four-month hold period from the date of issuance and subject to TSX Venture Exchange approval.  The securities offered have not been registered under the   United States Securities Act of 1933   , as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.  

      About Pinnacle Silver and Gold Corp.  

  Pinnacle   is   focused   on   district-scale   exploration   for   precious   metals   in the Americas.  The high-grade Potrero gold-silver project in Mexico’s Sierra Madre Belt hosts an underexplored low-sulphidation epithermal vein system and provides the potential for near-term production   .   In the prolific   Red   Lake   District   of   northwestern   Ontario, the Company owns a 100%   interest in the   past-producing,   high-   grade   Argosy   Gold   Mine and the adjacent North Birch   Project   with an eight-kilometre-long target horizon   .   With   a   seasoned,   highly   successful   management   team   and   quality   projects,   Pinnacle   Silver   and   Gold   is committed   to   building   long   -term   ,   sustainable   value   for   shareholders.  

  Signed: ‘Robert A. Archer’  

  President & CEO  

    For further information contact   :  

  Email:     info@pinnaclesilverandgold.com    

  Tel.:  +1 (877) 271-5886 ext. 110  

    Website:     www.pinnaclesilverandgold.com    

  Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release   .  

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