BELLINGHAM, Wash., Sept. 11, 2012 /PRNewswire/ -- Pengram
Corporation (Symbol: PNGM.PK), (the "Company") announced that its
Board of Directors have approved a private placement offering of up
to $1,000,000 of $5,000 denomination 10% unsecured notes due
November 30, 2016 (the "Notes
Offering"). The purpose of the Notes Offering is to retire
the current liabilities of the Company and to raise funds for the
acquisition and exploration of mineral properties, and for general
corporate purposes, without diluting the current shareholders. The
Company will offer the Notes to the creditors of the Company in
satisfaction of the current debt. The Company will also offer the
Notes to investors who are seeking a higher interest rate than
available on more senior debt securities. The Notes Offering will
be completed pursuant to Regulation S promulgated under the
Securities Act of 1933, as amended (the "Securities Act") to
persons who are not "U.S. Persons" as contemplated under Regulation
S of the Securities Act.
"We are pleased to be able to offer a higher return note to
investors. The maturity date allows enough time for Pengram
to execute on its business plan without having to issue shares at
the current price keeping its capital structure intact, while
cleaning up the balance sheet allowing for a much healthier
financial statement," commented Richard
Donaldson, CEO of Pengram.
The Company may pay a commission or finders fee of up to 10% of
the Notes Offering proceeds to duly licensed brokers or investment
dealers who introduce purchasers or to other person where permitted
by law.
The above does not constitute an offer to sell or a
solicitation of an offer to buy any of the Company's securities in
the United States. The securities
have not been registered under the Securities Act and may not be
offered or sold within the United
States or to U.S. persons unless an exemption from such
registration is available.
ABOUT PENGRAM CORP. (PNGM) www.pengramgold.com
Pengram Corp. (PNGM) is an exploration-stage company. The
Company is engaged in the acquisition and exploration of properties
to search for gold mineralization in Canada and the
United States. In Nevada,
Pengram controls 216 claims covering approximately
4,350. In Canada, PNGM controls 8,372 acres in the
Cariboo Mining District that has historically produced more than
3.8 million ounces of gold.
Forward Looking Statement
Statements in this news release that are not historical facts
are forward-looking statements that are subject to risks and
uncertainties. Words such as "expects," "intends," "plans," "may,"
"could," "should," "anticipates," "likely," "believes" and words of
similar import also identify forward-looking statements.
Forward-looking statements are based on current facts and analyses
and other information that are based on forecasts of future
results, estimates of amounts not yet determined and assumptions of
management. The statements regarding financing in this news release
are forward-looking statements. Such statements are based on
current expectations. Actual results could vary materially from the
description contained herein due to many risk factors, in
particular, there is no assurance that Pengram's creditors will
accept the Notes or that Pengram will be able to sell the Notes
Offering to investors. The forward-looking statements
contained in this news release speak only as of the date on which
they are made, and Pengram does not undertake any obligation to
update any forward-looking statement to reflect events or
circumstances after the date of this press release.
Investor Contact:
Tel: 1.877.225.8808
info@CapitolFinancialMedia.com
SOURCE Pengram Corporation