Vital Metals grows tonnage by 56% at Nechalacho rare earth project
The updated resource will support a scoping study that the company expects to complete within the coming weeks.
(via TheNewswire)
Vancouver, British Columbia, January 20, 2025 – TheNewswire - Pangea Natural Foods Inc. (CSE: PNGA) (OTC: PNGAF) (“Pangea” or the “Company”), a natural food company, is pleased to announce a non-brokered private placement offering (the “Offering”) of up to 20,000,000 common shares (the “Offered Shares”) at a price of $0.025 per Offered Share for gross proceeds of up to $500,000. The net proceeds of the Offering are expected to be used for general corporate purposes and working capital.
The Company also announces that it has entered into debt settlement agreements with certain creditors of the Company (the “Creditors”) pursuant to which the Company has agreed to issue to the Creditors, and the Creditors have agreed to accept, an aggregate of 20,000,000 common shares (the “Settlement Shares”) at an issue price of $0.025 per Settlement Share, in full and final settlement of accrued and outstanding indebtedness in the aggregate amount of $500,000 (the “Debt Settlements”).
The Offered Shares and the Settlement Shares will be subject to a statutory hold period of four months from the date of issuance under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
On Behalf of the Board of Directors
(signed) “Pratap Sandhu”
Pratap Sandhu
CEO, Corporate Secretary and Director
About Pangea Natural Foods Inc.
Pangea Natural Foods Inc. is a food manufacturing company focused on manufacturing and distributing high quality food products that are nutritious and free of GMO ingredients, fillers, antibiotics, hormones, and bioengineered ingredients.
For further information, please visit the Company’s website at www.pangeafood.com or contact:
Pangea Natural Foods Inc.
Pratap Sandhu, Chief Executive Officer
Telephone: +1 (604) 765-8069
Email: [email protected]
Forward-Looking Information
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the closing of the Offering and the Debt Settlements, the anticipated total proceeds to be raised under the Offering and the expected use of such proceeds.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, delays in obtaining or failure to obtain required regulatory approvals for the Offering and Debt Settlements; market uncertainty; the inability of the Company to raise the anticipated proceeds under the Offering; and the inability of the Company to use the anticipated proceeds under the Offering for the purposes stated herein.
In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will obtain the required regulatory approvals for the Offering and the Debt Settlements; that the Company will be able to raise the anticipated proceeds under the Offering; and the Company will use the proceeds of the Offering as currently anticipated.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
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