Paramount Gold And Silver Updates Earlier $9 Million Financing Announcement

Paramount Gold And Silver Corp. has announced that the planned $9 million financing has been approved by NYSE Alternext. The news release also explains that the TSX delisting review, also announced earlier, was triggered by Paramount invoking the hardship exemption. Paramount has reaffirmed its belief that the review is merely routine.

This item was disseminated before market's open today. As of the time of this post, Paramount is up 5 cents at $1.00. Current bid - ask is 98 cents - 99 cents.

The company's Google Finance web page is here.

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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.

Paramount Gold And Silver Under TSX Delisting Review

Paramount Gold and Silver is currently under a TSX delisting review, under which the company has 210 days to maintain compliance. If not, it'll go to the Venture. The news release does not specify the reason why Paramount is under review.

This item was sent out after market closed yesterday. Prior to it, Paramount closed at 95 cents, down 13 cents on the day. Current bid-ask is 90 cents - 96 cents.

The company's Google Finance web page is here.

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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.

Paramount Gold And Silver Get $9 Million In Financing From FMCI Financial Corp.

Paramount Gold and Silver Corp. has gotten a committment from FCMI Financial Corp. to purchase 12 million units at 75 cents per unit. Each unit will contain one common share and one purchase warrant, with exercise price of $1.05. The warrants will have a life of four years, but cannot be exercised until six months after they're issued. This deal will potentially lead to a Change of Control, as FCMI will hold 25.36% of the company if all warrants are exercised, but Paramount is going to invoke the Financial Hardship exemption in order to avoid the need to secure shareholder approval. NYSE Alternext approval for the private placement is pending. Paramount plans to use the proceeds to advance its San Miguel project and explore surrounding claims. The news release contains further details, and also notes that Paramount faces a TSX delisting review that the company believes is routine.

This item was webbed last night. Prior to it, Paramount closed down 6 cents at $1.02.

The company's Google Finance web page is here.

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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.