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VANCOUVER, British Columbia, Nov. 25, 2022 (GLOBE NEWSWIRE) — P2 Gold Inc. (“P2” or the “Company”) PGLD PGLDF reports that it has accepted the terms of its previously announced (see press release dated October 25, 2022) non-brokered private placement of up to 4.0 million units (the “Units”) at a price of $0.27 per Unit for gross proceeds of up to to approximately $1 million (the “Offer”).

Each Unit now consists of one common share of the Company (a “Share”) and one whole (previously half) common share purchase warrant (a “Warrant”). Each Warrant now entitles the holder to purchase one additional common share of the Company at an exercise price of $0.40 per common share (previously $0.50 per common share) for a period of two years from the date of issue (the “Expiry Date”. Time”) , provided that after four months from the date of issue, the closing price of the Company’s common shares on the TSX Venture Exchange (the “Exchange”) is at least $0.80 (previously $1.00) for any 10 consecutive trading day period at any time Prior to the Expiration Time, the Company shall have the right to expedite the expiry time of the Warrants by notifying the Warrant holders by means of a press release or other dated confirmation of the Warrants that the Warrants will expire at 4:30 p.m. (Vancouver time) on a date expire no less than 15 days after the date of notification.

The offering will be completed upon completion of documentation and is subject to receipt of all necessary regulatory approvals, including exchange approval. Proceeds from the offering will be used to fund exploration and engineering expenses and for general corporate purposes.

The offering is being offered to accredited investors in all provinces of Canada under applicable securities laws. Combined with…