Pinnacle Silver & Gold Corp (TSX-V:PINN, OTCQB:PSGCF, FRA:P9J) closed the first tranche of its non-brokered private placement, raising gross proceeds of $652,080 through the issuance of 5.93 million units priced at $0.11 each.
Net proceeds will fund advancement of the high-grade El Potrero gold-silver project in Durango, Mexico, project evaluations and working capital.
Company insiders participated, purchasing 1.65 million units for gross proceeds of $181,500.